Mortgage Affordability

Mortgage Affordability

How long would it take you to key in your details on 54 different lenders affordability calculators?

Are you certain you would be accurate in assessing your income and outgoings in the same way as a lenders underwriter?

Why would you bother when we can do that for you FREE OF CHARGE.

 

How Much Can I Borrow on a Mortgage?

There isn’t a secret formula. All lenders use different criteria to work out how much they consider affordable for you to borrow on a mortgage.

They look at your personal details and how many children or dependents you have, what you’re earning each year and whether you’ve got any additional income. They then look at your credit commitments and expenditure and then they make a decision.

There is no one-size-fits-all calculation to be done, each bank has a slightly different approach to mortgage affordability, some are more generous than others.

 

Online Calculators

Basic online calculators may over simplify things. They typically state that a lender is usually willing to offer you around 4-5 times your annual income, this takes no account of all the extra details that lenders use in calculating affordability.

Of course if you go onto a lender’s own calculator you should get a far more accurate decision, that again depends on the quality of the information you type into the calculator. Knowing how to assess affordability the same way the lender does at underwriting stage is essential to get what you want………. an accurate figure.

That’s why we offer you a FREE AFFORDABILITY REPORT.  If you select this option in our footer then we will contact you and provide you with a free report with no obligation to use us for any other service.  Our team are highly trained and know how to assess your income correctly and discuss detailed income and expenditure items.  The report will put your information generically through online calculators of 42 actual lenders and produce a detailed report, see the example below.

Of course knowing how much you can borrow is only part of the underwriting process, to give you more certainty you should use our FREE ONLINE CREDIT CHECK. Once we know your position on credit and have assessed affordability for you we are in a very strong position to push to the next stage for you which is a FREE MORTGAGE CERTIFICATE.

Take advantage of our expertise and advice, remember you are under no obligation to use us further. This report in no way affects your credit file as no credit searches are undertaken.

 

Have a look at the actual FULL FREE AFFORDABILITY REPORT which is what we will provide you with. Free Report Example

 

 

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME OR PROPERTY. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE MOST FORMS OF BUY TO LET MORTGAGE.

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