How much can I borrow for a mortgage?
Generally you can borrow:
Sole Applicant
- 5 x main income where allowable income > £50,000 p.a.;
or - 4.5 x main income where allowable income ≤ £50,000 p.a.;
- Multiples above 4.5x will be capped at 85% LTV
Joint Applicant
- 4.5 x main income + 1 x secondary income (where joint allowable income ≤ £50,000 p.a.);
or - 5 x main income + 1 x secondary income (where joint allowable income > £50,000 p.a.);
or - 4.5 x joint income (where joint allowable income > £50,000 p.a.);
or - 4 x joint income (where joint allowable income ≤ £50,000 p.a.)
- Multiples above 4.5x will be capped at 85% LTV