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, 2019. Private Finance provides independent mortgage advice and arranges individual mortgage solutions for clients. Private Finance is a trading style of Private Finance Ltd, 29 Lincolns Inn Fields, London, WC2A 3EG, registered in England no. 3855776 and its Appointed Representatives. Private Finance Limited is authorised and regulated by the Financial Conduct Authority (FCA registration number 310566).

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From the start Private Finance, specifically Sean Hirschle were exceptionally helpful. Most brokers say they have access to the whole market, but from using another broker before and then Private Finance I can say that Private Finance really do seem to have access to the majority of the market. Quick to respond and informative all the way they helped to push the lender and solicitors when the conveyancing was taking time, they really did meet and exceed my expectations. I would not hesitate to recommend them or use them again. Thank you.
A very efficient and smooth process from beginning to end. The team in Shrewsbury were great, got the deal that worked for us and will definitely use Private Finance again.
I have used Financial advisers before, but seldom is the service as efficient and tailor-made as the one that I received from the entire team at Private Finance limited. Edward Checkley who spearheaded all aspects, from advising on Refinance to purchase of my property, blew me away with his wealth of knowledge and expertise in the field of mortgages and finance. He gave me the best possible honest and helpful advice. Alex Aiton and Donovan Mawson, also supported me throughout the process, tirelessly picking up calls and answering, at times mundane and repetitive questions from my end. Not once have I called, and it has not been picked up immediately, the support and level of professionalism has been exemplary. Such service for the price I paid is worth its weight in gold. I will definitely be using these fine individuals again for any financial or property related investments in the very near future. Great work guys and thank you ever so much!!!
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