How much times your wage did you get lent ?

Adsta

@COYI123 from my understanding (what my broker told me) depends on your type of job as in how stable it is as to if they will lend you more. Best bet would be to talk to a Broker and see what they can do for you. 

I spent ages wondering what I might be able to afford. You can find plenty of Brokers who work for "free" (they get commission if you get a mortgage through them) but will give you a far more accurate idea. You don't have to use that particular Broker, but it will give you much better idea.

In the end for me I went to a Broker and found I was able to borrow a little bit more than what I initially thought. It doesn't cost you anything so well worth doing! 

RelievedSheff

COYI123 said:

RelievedSheff said:

Joint income £67500. We took 2.69 x earnings as we didn't need to take anymore. We have taken it over a shorter term though at 15 years with the aim of clearing the mortgage debt relatively quickly.

That’s not to bad in your case , did they tell you how much of your wage you would be able to have if you did want it ? 

We didn't even ask.

MaryNB

4.75x single income £36k, FTB, clean credit history, low LTV

COYI123 said:

Adsta said:

4.92x on one salary. In a 78% LTV. I'm a FTB, I had to go a bit above but had a fairly good deposit.

I’m a FTB as well and have a 90% LTV , earn around £54000 a year , hoping to get a £270000 property , do you think I have a chance ? 

Sounds doable. I got my mortgage with Halifax. For a £54k salary and 90 LTV they could go up to 4.75x if you meet the rest of their lending criteria. 
See Mortgage lending criteria > Income >  Affordability and Sustainability

I don't know about other lenders but might be worth talking to a broker if you are nervous. Definitely talk to a broker if there are any issues with your credit history or your income isn't straightforward. 

EmzJenks

FTB - joint income £52,000 - we've applied to borrow £153,000 - so 2.94x 
Our credit isn't the best so hoping the lower amount we're applying to borrow will help us - application in just waiting to hear! 

COYI123

MaryNB said:

4.75x single income £36k, FTB, clean credit history, low LTV

COYI123 said:

Adsta said:

4.92x on one salary. In a 78% LTV. I'm a FTB, I had to go a bit above but had a fairly good deposit.

I’m a FTB as well and have a 90% LTV , earn around £54000 a year , hoping to get a £270000 property , do you think I have a chance ? 

Sounds doable. I got my mortgage with Halifax. For a £54k salary and 90 LTV they could go up to 4.75x if you meet the rest of their lending criteria. 
SeIncome >  Affordability and Sustainability

I don't know about other lenders but might be worth talking to a broker if you are nervous. Definitely talk to a broker if there are any issues with your credit history or your income isn't straightforward. 

Yeah I hope so , I have good credit , no defaults , never missed a payment , I’d consider my job to be secure since I’ve got a trade as a plumbing and heating engineer , and pay around £450 a month in bills. So 4.5 x at least should be do able 

MovingForwards

I borrowed 3.3x my then income, if I wanted 4.5x it would have been fine. I had bad history, took a 23 year mortgage, 5 years fixed rate and have a sub-prime lender. I set a price I was prepared to spend, found a great property and got it for under my budget. I've made overpayments since getting the keys and will have it cleared in 10 years from when it started.