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 4.94 stars by Reviews.co.uk based on 226 merchant reviews

4.94 / 5 Rating
226 Reviews
From the very beginning, via a referral Ryan has been very clear, concise and helpful throughout the entire process. Everything was explained and nothing too much trouble despite us throwing numerous different options at him. at the point in which we went through the application both Ryan and Chloe were fantastic, polite, friendly and informative. the information and application process was clear and hassle free and moving on to the secondary phase of organising health and home insurance again, both have been extremely helpful and professional throughout, always with a pleasant disposition and friendly manner. nothing has ever seemed to be too much trouble so a huge thank you and we will definitely refer others to them. thank you
I found the advice comprehensive, clear and extremely helpful. My interactions with Sarah Sheppard were of the highest quality in terms of responsiveness and coming up with solutions not problems and she made me feel like my business was important and she wanted to help me secure my new property. I felt she was partnering me on my journey and this provided welcome support during what is a very stressful time. I felt more than a number - but a person who mattered. Thanks - Carole
Have used them several times, and would continue to. Janna and George took all the hassle out of a mortgage application for us, and it's done with a personal and friendly service.
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