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.

WHAT IS POSSIBLE FOR ME? REQUEST A CALL BACK

Leave this field blank

You voluntarily choose to provide personal details to us via this website. Personal information will be treated as confidential by us and held in accordance with the appropriate data protection requirements. Please read our Privacy Notice before submitting your call back request.

I agree to be contacted by Private Finance via telephone in relation to my enquiry and similar products that may be of interest to me.
I agree to be contacted by Private Finance via email, which includes marketing emails relating to my enquiry and similar products that may be of interest to me.

You can unsubscribe from marketing emails or telephone communications at any time by clicking the ‘Unsubscribe’ link at the bottom of emails sent to you.

*  =  Required field

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

© Private Finance Limited, 2020. 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).

Private Finance Ltd is rated 4.96 stars by Reviews.co.uk based on 911 merchant reviews

4.96 / 5 Rating
911 Reviews
With polite, personal attention, Anuj and his colleague acted swiftly and effectively from initial mortgage offers through to completion of sale. Thank you
Excellent service and a very professional team. I used PF for both mortgage and insurance support. Can't recommend them enough.
I cannot recommend Private Finance Ltd enough. Buying a property is always stressful - but the whole process is even more daunting for first-time buyers. Chris Sykes from Private Finance found several advantageous mortgage offers for me to look over. He also went out of his way to provide step-by-step guidance and took the time to answer all my questions. He responded immediately to my emails (even while on holiday!) and I'm certain I would not be living happily in my flat without Private Finance's thorough research into securing the best mortgage offers out there. I had approached several companies but knew straight away that Private Finance was the one for me. I heartily recommend to all buyers.
The British Mortgage Awards 2015 back to top