How Much Can You Borrow?

You should only borrow what you can comfortably afford to repay. You need to consider all of your important expenditure and plan your mortgage repayments carefully and sensibly.

Most lenders will either use a set income multiple (3 to 5 times your gross wage after taking into account any other loans or credit cards), or use an ‘affordability’ based calculation.

Either way they will not usually take all the elements of your income into account e.g. they may only take half of overtime or second jobs into the calculation.

Please call us so that we can discuss accurately what you would be able to borrow (and afford!).

We prefer not to have a lending calculator on our website because of the vast difference in amounts lenders will lend and the way that they each consider how to do so.

How Much Can You Afford?

You should sit down and work out what you expect the monthly bills to be including any travel costs, existing credit commitments, food etc.

Don’t forget that interest rates could increase in the future so whatever the cost of the mortgage initially may not stay the same in the long term.

Click here for a downloadable copy of our budget planner.