Borrowing more

NOVAMET21

I believe the maximum amount the lenders will lend is about 5 x Salary.


I'm curious to know if a person has been paying the mortgage on time for several years, does this make the lender see that the person is less riskier and can afford to pay more monthly amount if the person wants to borrow more whether its buying bigger house or re-mortgaging for various reasons?


Basically what I'm asking is whether there is a scenario where the lender will lend more than 5 x Salary after the person has been with the lender for a while.

Thrugelmir

agurung wrote: »

I'm curious to know if a person has been paying the mortgage on time for several years, does this make the lender see that the person is less riskier

Simply means that one box of many gets ticked. Applications can fall foul of any number of criteria during the application process. Lenders have target markets for their mortgage products. Simply being with a lender for longer isn't relevant in terms of receiving different treatment.