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Old 08-03-2010, 09:54 PM
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Join Date: Mar 2010
Location: Kent
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Smile Maximum borrowing
New to the forum, hi all.

I have a question relating to the level of mortgage I can secure. I am looking to buy a ground floor flat for approx £250k in 5-months time and have a 10% deposit to put down. My query is; its my understanding that historically banks would only lend up to a set multiple of an applicants annual salary. I am wondering at what level that 'multiple' is set to presently in light of the current economic conditions, and the what the likelihood of securing a mortgage is. (Our joint salary is just over £52k/pa.)

Thanks in advance!
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Old 10-03-2010, 09:21 AM
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Join Date: Dec 2009
Posts: 16
Default Re: Maximum borrowing
The Max with a few lenders is 5 times, but you will often struggle to reach it.

With an income of 52k, assuming no debts, borrowing 225k should be feasible.
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Old 10-03-2010, 04:48 PM
Kaz Kaz is offline
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Join Date: Aug 2008
Location: Kent
Posts: 135
Default Re: Maximum borrowing
Are 90% LTV mortgages available again now then?
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Old 12-03-2010, 11:14 AM
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Join Date: Dec 2009
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Default Re: Maximum borrowing
yep, with several lenders
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Old 22-03-2010, 06:28 PM
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Join Date: Apr 2006
Posts: 1,153
Default Re: Maximum borrowing
Nationwide do 95% mortgages if you have a current account with them:
Nationwide Mortgages: Calculator Fixed Rate First Time Buyer Remortgage Deals
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