We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Moving home drop in income

Donce
Donce Posts: 6 Forumite
Part of the Furniture First Post Combo Breaker
in Mortgages & endowments
Hi can any one advise me I selling my house  510k buying new 470k balance on mortgage 150k joint income 30k. Still in fixed rate deal till 2026 . 2 kids No credit cards or loans .I want to port the mortgage but it’s like new application with Barclays ,what a the chances for Barclays to decline and keep me in current property? 

Thanks in advance for all info 

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 16 August 2020 at 11:25AM
    Have you tried Barclays online affordability calculator to give you a guide as to how much they would potentially advance you. 
  • Donce
    Donce Posts: 6 Forumite
    Part of the Furniture First Post Combo Breaker
    Thrugelmir said:
    Have you tried Barclays online affordability calculator to give you a guide as to how much they would potentially advance you. 
    Did that on standard Barclays calculator they will lend 157k then tried on Barclays intermediary calculator  only 135k 
  • MinuteNoodles
    MinuteNoodles Posts: 1,176 Forumite
    1,000 Posts Name Dropper
    4.5x joint income is the maximum in virtually all cases that all but a few lenders will lend so £135k.
  • Donce
    Donce Posts: 6 Forumite
    Part of the Furniture First Post Combo Breaker
    MinuteNoodles said:
    4.5x joint income is the maximum in virtually all cases that all but a few lenders will lend so £135k.


    Is that including council tax bills ?
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.7K Banking & Borrowing
  • 253.4K Reduce Debt & Boost Income
  • 454K Spending & Discounts
  • 244.7K Work, Benefits & Business
  • 600.1K Mortgages, Homes & Bills
  • 177.3K Life & Family
  • 258.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture