How Much for a Mortgage Can I Borrow?
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If you want to know how much of a mortgage you can borrow or whether you can afford a mortgage, let the experts at First Mortgage help.
How much of a mortgage can I borrow?
If you want to know how much of a mortgage you can borrow or whether you can afford a mortgage, let the experts at First Mortgage help.
Can I get a mortgage? Can I afford the mortgage? What will my repayments be? These are common questions from first time buyers and here at First Mortgage we are ideally positioned to answer these questions.
To assess how much mortgage you can borrow, a lender will either use an income multiplier or will base their assessment on whether you can afford the mortgage or not, your affordability. Other factors will be taken into account such as personal loans and credit cards and your credit history to assess if you can afford the mortgage and your ability to repay the mortgage.
With so many high street lenders offering mortgages and each lender using different calculations to assess your mortgage eligibility, it can be pay to speak with a whole of market advisor who will consider your affordability and provide advice across the mortgage market.
The answer to how much can I borrow is around 4 times for an individual’s salary or 3 times combined income on a joint mortgage application. How much mortgage you can borrow depends on your exact circumstances so this information is for guidance only.
First Mortgage can help calculate the mortgage available to you
For accurate information contact First Mortgage for impartial, professional advice on 0845 603 1525
Alternatively, First Mortgage offers a range of mortgage search tools and mortgage calculators to give you a better idea of the mortgage products on offer and how much mortgage you can get from a mortgage lender.
There are lots of different mortgage calculators available, however all these calculators have their limitations. Instead you can use our mortgage search wizard to find out in simple easy steps the rates, mortgages and real options available to you. Go beyond a calculator, use the mortgage search wizard instead!
Call us on 0845 603 1525 for a FREE consultation with one of our friendly and experienced consultants. We are more than happy to discuss your situation and help you choose the best mortgage type to suit your needs.
Get quotes prepared fast and easy from our award winning brokers starting, with our smart online form. Quote request
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