Mortgage borrowing criteria?

[RWD cossie wil]

What is the current max multiplier for a single income vs lending? Seems to be a split of opinion between 3.5x & 4x annual , that would make all the difference for a property I'm currently looking at?

[Sarnie]

5x annual income..............

[RWD cossie wil]

Have you got some contact details please Sarnie? Email me if you like.

[Sarnie]

RWD cossie wil said:

Have you got some contact details please Sarnie? Email me if you like.

I'll drop you a PM

[Salgar]

Apologies for the thread steal but...

Out of interest, does annual income include bonuses? Also is the the sum of the annual income of the joint partners?

I'm going to want your details in about 6 months too

Also is it possible to start looking for houses before you have your deposit, if you know exactly how much you will have on a certain date?

[Sarnie]

Salgar said:

Apologies for the thread steal but...

Out of interest, does annual income include bonuses? Also is the the sum of the annual income of the joint partners?

I'm going to want your details in about 6 months too

Also is it possible to start looking for houses before you have your deposit, if you know exactly how much you will have on a certain date?

Annual income can include bonus' but only those that you have received, not any future payments.

Most lenders though will give you differing amount in relation to your bonus though, usually dependent on how often the bonus is received.

You can start the process before you have the deposit but some lenders will ask you for Proof of Deposit at the outset, especially if it's a large amount.

[Glenred]

Sarnie said:

I'll drop you a PM

Hi Sarnie, can I get your details too.

[Sarnie]

Glenred said:

Hi Sarnie, can I get your details too.

Yeah course, feel free to drop me a PM!