Salary multiples
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samandmillie
Posts: 215 Forumite
Hi,
I just wondered if anyone knows about salary multiples. I've seen a house that I really like for £180k. I have £50k equity so would need a mortgage of £130k. On the salary multiples it says that the max I can borrow is £100k.
Would I be eligible to borrow more as I have equity?
Thanks
I just wondered if anyone knows about salary multiples. I've seen a house that I really like for £180k. I have £50k equity so would need a mortgage of £130k. On the salary multiples it says that the max I can borrow is £100k.
Would I be eligible to borrow more as I have equity?
Thanks
0
Comments
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Different lenders offer differing amounts. I am sure a lender will offer you more if you ask, just be sure you can afford the repayments.0
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All lenders have different multiples, and some uses affordability based lending calculations.
What is your gross annual salary and what is your partners gorss annual salary?
Do you have any current monthly financial commitments?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
15k & 18k. Outgoings of approx £600 on loans etc (not inc current mortgage/insurances etc).
Thanks0
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