Quick Enquiry
How Much Can I Borrow?
This depends on many factors, your income being the most important, but the amount a lender will grant you is also influenced by the amount of deposit you have (if any), your current outgoings (loans, credit cards etc) your occupation (professionals tend to be allowed to borrow more) and various other factors. Most importantly, you need to be comfortable with the repayments. Some lenders now are doing away with income multiples and applying an affordability calculation. This varies from lender to lender so in the case of an enquiry we need to look at all lenders if the figures are tight. Commonly if you have a loan the annual payment is deducted from your income before a multiple is applied which could seriously reduce your borrowing power.
How Much Deposit Do I Need?
The simple answer is that the more you have the better deal you will get. Nevertheless, you do not necessarily need any deposit at all as there are various 100 per cent mortgages available. There are even schemes which will allow you to borrow more than 100 per cent however these are on the decrease following recent market events and difficult to obtain.
Is It Complicated – How Will I Understand Everything?
Buying your property can be daunting, which is why it is essential you seek professional help from someone who will guide you through the process and speaks your language – which is what we pride ourselves on doing.
