Help! Affordability: Beyond the AIP

purplepardalis

purplepardalis said:

Sorry to hijack but I have a related query, does higher income affect ratio at all? If you earn around 90-100k and have credit repayments, would you get the 4.5 ratio or would it be downgraded?
Or is that again on a case by lender basis? And perhaps dependent on deposit?

Sorry, forgot to add - FTB situation

housebuyer143

@purplepardalis

With a salary of that amount you will find lenders who lend 5.5x your income, such as nationwide, Halifax etc. 
Loan commitments will be deducted from your overall affordability so you wouldn't get the max amount.

ACG

housebuyer143 said:

@purplepardalis

With a salary of that amount you will find lenders who lend 5.5x your income, such as nationwide, Halifax etc. 
Loan commitments will be deducted from your overall affordability so you wouldn't get the max amount.

But if you have large commitments, it may end up being less than 5.5x income. 

housebuyer143

ACG said:

housebuyer143 said:

@purplepardalis

With a salary of that amount you will find lenders who lend 5.5x your income, such as nationwide, Halifax etc. 
Loan commitments will be deducted from your overall affordability so you wouldn't get the max amount.

But if you have large commitments, it may end up being less than 5.5x income. 

Yes, that's what I said 👍 

ACG

housebuyer143 said:

ACG said:

housebuyer143 said:

@purplepardalis

With a salary of that amount you will find lenders who lend 5.5x your income, such as nationwide, Halifax etc. 
Loan commitments will be deducted from your overall affordability so you wouldn't get the max amount.

But if you have large commitments, it may end up being less than 5.5x income. 

Yes, that's what I said 👍 

Sorry I misread your post. 

You did indeed.