How Much Will Mortgage Lenders Lend?


A mortgage lender will lend you about four times your gross salary, although some lenders will offer you more if you're willing to pay a higher interest rate. If you're buying with a partner then they'll probably throw in the equivalent of his or her annual salary in addition to the amount they're prepared to lend you. So, if you're on £25,000 a year and he or she is on £20,000, you should be able to borrow around £120,000. Alternatively, they may lend you three times your joint income.
1 Additional Answer
Money lenders will lend money after knowing your monthly salary, your deposits and your monthly financial responsibilities. For example if your monthly salary is £20,000 while your deposits are also £20,000 with only £200 monthly commitments then the lenders can lend you between £52,800 to £74,800. You can check out more details on the this site:
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