How Much Can I Borrow for a Mortgage?

One of the most common questions we get from home buyers and home owners alike is a variation of “how much can I borrow or how big a mortgage can I get?”
As many of us return from our holidays we are seeing more and more enquiries of this nature.

For first-time buyers, higher rates may require compromise on location or property size to manage payments. Data shows record numbers leaving London to purchase homes.

Remortgaging homeowners also face payment shocks as low <2% rates expire and landlords too are having to readjust their rates and investments to ensure they remain profitable.

With interest rates now at 15-year highs, both new and existing homeowners face affordability challenges. Determining realistic borrowing capacity is crucial.

Get Clarity On Your Borrowing Potential
Lenders will assess your debts, financial commitments, income, available deposit, savings, credit score and credit history before deciding on what level of repayments are affordable.

What is surprising is just how much the maximum loan for any given set of applicants’ circumstances can vary from lender to lender as they apply different loadings to each of these factors. This is why it’s imperative to have an experienced, knowledgeable and skilled adviser in your corner.

In recent weeks, we’ve seen a surge of interest from first-time home buyers, homeowners looking to up-size, and buy-to-let landlords seeking more competitive and flexible mortgage financing.

How Can We Help?
No matter your lending needs, our consultative approach is focused on your big picture objectives. We have in-depth mortgage expertise and long standing relationships with a vast number of lenders.

And with approximately 42% of all mortgages only available through a mortgage broker it would be advisable to book a FREE call to discuss your needs.

Contact us today on 0208 364 3444 or click here to schedule a free consultation call.

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