How much can I borrow?

RESULTS

The amount you may be able to borrow is:

But for most people looking for a mortgage nowadays the answer is more flexible – or complex, depending on the way you look at it. Either way, it may mean that you can borrow more than you expected to by using the simple formula above. And that’s where the advice of a specialist, independent mortgage broker can prove invaluable.

There are a number of basic factors that influence how much you can borrow, including:

  • The deposit you can afford (lenders apply maximum loan amounts when your deposit is a relatively small percentage of the value of the property)
  • Your total income (salary, commission and bonus – from all sources) – including the income of anyone with whom you are buying
  • Your financial outgoings – particularly regular outgoings which affect your ability to repay the mortgage on a monthly basis
  • Your credit history – how reliable are you at repaying your debts?
  • The type of mortgage you require – residential or buy to let, repayment or interest only
  • Whether you are employed, self-employed, a UK resident or a foreign investor

IMPORTANT INFORMATION

The above calculations are only examples and are not guaranteed. Loans are subject to status and valuation and are not available to persons under 18 years of age. Written quotations available from individual lenders. For secured loans the lender will require a charge on your property and in the case of endowment mortgages, an endowment/life policy for the amount of the advance and a charge over the property. For interest only mortgages, the above calculations do not take into account the cost of any endowment, pension or other savings plan being used to repay the loan. In addition, the figures shown in respect of both repayment and interest only mortgages do not include the cost of additional life cover.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

© Private Finance Limited, 2017. Private Finance provides independent mortgage advice and arranges individual mortgage solutions for clients. Private Finance is a trading style of Private Finance Ltd, 21 Bedford Square, London WC1B 3HH, registered in England no. 3855776 and Private Finance Associates LLP (PFA LLP) of the same address, registered in England no. OC357301. PFA LLP is an Appointed Representative of Private Finance Ltd. Charges are based on the loan amount and the complexity of your needs and circumstances. Our maximum fee is 1% however typically our average fee has been 0.28%, i.e. £980 on a loan of £350,000. Private Finance Limited is authorised and regulated by the Financial Conduct Authority (FCA registration number 310566).

Private Finance Ltd is rated 4.95 stars by Reviews.co.uk based on 213 merchant reviews

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213 Reviews
"My partner and I had been looking to re-mortgage for a while, but due to some credit rating issues, had no luck elsewhere! Michelle Clack managed our application and found us a great deal, and it only took 3 weeks. Highly recommend!"
"The service and hand holding throughout has been excellent. So much patience, perseverence, professionalism and kindness. I would highly recommend as it has been faultless. Thank you to Mark for everything. I am very grateful for all the help."
Superb service throughout in a time of extreme pressure for us. Very easy to contact, excellent professionalism and hugely impressed. So much better than high street banks!
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