Halifax AIP

amnblog

Xyzzy wrote: »

Ignore AMN blog, he’s just done a basic income multiple. That’s not accurate at all. Your £200 per month car lease will reduce it to around £319,675. You haven’t mentioned whether you’ll carry forward any other debt? Or whether you have children? Or there will be ground tent or a service charge?

I’m afraid your psychic powers are up the shoot today Xyzzy

I ran a Halifax calculation, and the affordability fits, based, on 37000 + 13000 + 25000 second income and two 200 pcm car loans.

In this case the income multiple happens to be the limiting factor.

This one can stand £500 per month debt before the affordability is hived down from the £331,550 income multiple cap.

This will fit Aimee.

kingstreet

I agree with amn.

On an attempted £390k purchase, with £350k mortgage, (89%) the Halifax LAC is topping out at £331,550 and is not increasing with the term, so income capping is in effect due to LTV.

You could carry a further £100 a month in loan payments and your affordability would be unaffected.

Here's a link to the calculator;-

https://www.halifax-intermediaries.co.uk/tools_and_calculators/mortgage_affordability_calculator/default.aspx

aimeeeve

Thanks both, that makes much more sense.