How much can I borrow?
It used to be very simple to work out how much you could borrow. Just multiply 4 x single income or 3 x joint income and that gave you a figure for your maximum borrowing.
Now, with a lot more competition between the lenders, they use formulas which are more complex. The majority of lenders now look at the overall affordability of the mortgage and take into account existing and ongoing credit, number of children as well as range of other factors such as the credit score.
Different lenders have different affordability calculators and will lend different amounts to different people. We use our knowledge and experience to find the lender that best meets your specific requirements - ie the lender that will lend you the maximum at the lowest possible overall cost.
Generally speaking, you can normally borrow up to 4 x single income, or 3.5 x joint income (or 4 x one income and 1 x the other) though some lenders will lend as much as 5 x single income or 5 x joint income!
If you contact us and provide some basic details, we will look at all the mortgage lenders to find one that will lend you the amount you want to borrow, and we'll make sure it's the best rate possible so you can afford to pay it each month!
Areas covered include: Wetherby, Tadcaster, Boston Spa, Collingham, Kirk Deighton, Leeds, Harrogate, York...
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