Lenders with highest income multiples on affordability?

Devon_Sailor

Afternoon all,

In the traditional mortgage quandry of being able to afford the payments but not able to quite rack up enough multiples of joint income to hit the lending amount. Does anyone have any recommendations of lenders who utlise higher values?

For info if required looking to remortgage to a total of c.£430,000 borrowed against a £650,000 valuation. Combined household income c.£75,000.

All the various comparison calculators put 30/35yr terms on repayments of between £1300-1500pm. We've done our sums and that's affordable but most we've been able to squeeze out of companies as a provisional offer is £408.

I know there area other ways of skinning it (second mortgage after getting the first on, etc) but it would be much simpler just to get it all done in one go.

Anybody got any thoughts?

Many thanks
D_S

PS.
Sum is required as have £395000 build costs (small mortgage and a bridging loan) to refinance. Project was a complete rebuild of a derelict property.

amnblog

As, you know, it is more complex than that but in simple terms, we have lenders that will do six times, but only on +100K income.

I would have thought 5.5X times will be your maximum leaving you about £20K short.