Mortgage in principle

KazMack

Hi guys,

I’m currently looking to buy my first home and have completed a few mortgage in principles over past 6 months or so and being offered quite high amounts. I earn just under 22k a year, no kids, single and getting offered up to £95k. How much realisticly can I expect to get? Close to that or a lot lower? Got no debts or anything currently.

ACG

That sounds about right. I normally work to the tune of 4.5x income.

On a side note, be careful about doing too many Mortgage in Principle'. If they are doing hard credit checks, you are potentially harming your credit report by doing too many.

KazMack

Aw great thanks. The mortgage in principles I’ve done months apart as I thought they might only be valid for so long and I’ve yet to find a place yet but I will bare that in mind.