How Much Can I Borrow?
How much can I borrow?
Lenders look at your monthly income and all your monthly expenses to get an estimate of how much you will have left at the end of the month to cover your mortgage.
It’s all about affordability!
As a rule of thumb and to ensure you have access to the widest choice of lenders, work on 4 times your income.
You can stretch it to 4.5 times your income, but your panel of lenders reduces. Some lenders are now offering up to 5 times income.
Some lenders will cap the borrowing to 4 times your income once you go over 80% LTV, whilst others apply a loan to income (LTI) cap of 4.5 times your income.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
The Financial Conduct Authority does not regulate most types of buy to let mortgages, bridging loans, development loans and commercial loans.
