Mortgage advice please.....

[Tibs]

Roughly, how is a mortgage value calculated these days?

Remember something about so many times one wage plus so many of other persons wage?

Any help welcome on this.


Thank you

[SGirl]

I'm just looking into this one at the moment.

What I was told by the last place I spoke to was:

3.5 times the main salary
plus 1.5 times the secondary salary

HTH.

Edited by SGirl on Tuesday 30th June 20:35

[Tibs]

Thanks for the reply.

doing the maths,it doesnt bode too well for us........balls!

[Ungarsee]

Depends on the company but woolwich is 4 x total combined basic income. The key though is affordability so if you and your other half are both on £20k per annum but have lots of debt outstanding, the lender will give you far less than mr and mrs bloggs who are on the same income but have no debts outstanding.

Best bet is to play with some mortgage calculators online (most lenders have them) or find yourself a good IFA

[GreenDog]

Scotal is the PH tame mortgage/financial advisor - try a PM to him

[kippax]

GreenDog said:

Scotal is the PH tame mortgage/financial advisor - try a PM to him

& I recommend him too

H