5x income mortgage providers

[jfis89]

Hi all

Does anyone have a list of providers who will lend at 5 times salary? I have an offer in principle through Habito for that amount but I can’t see who the providers and what the rates are without going into a proper application - just at the research stage currently but would be interesting to see how the rates compare to those only lending up to 4.5/4.75.

Thanks

[DaveH23]

When we got our mortgage 2 years ago I asked out of curiosity if I could of got it on my salary alone.

At the time I was aloud 5.5 times my salary at a smidge over 2% and this was with Nationwide.

Lenders are now understandably tightening their belts but Sarnie will be the best on here to answer your question.

[Sarnie]

jfis89 said:

Hi all

Does anyone have a list of providers who will lend at 5 times salary? I have an offer in principle through Habito for that amount but I can’t see who the providers and what the rates are without going into a proper application - just at the research stage currently but would be interesting to see how the rates compare to those only lending up to 4.5/4.75.

Thanks

It's not quite as simple as this................the income multiple available to you will depend on numerous parameters such as LTV, income, purchase type Eg HTB, FTB...........

This is the downside of non-advised aggregators like Habito......

[Slaav]

jfis89 said:

Hi all

Does anyone have a list of providers who will lend at 5 times salary? I have an offer in principle through Habito for that amount but I can’t see who the providers and what the rates are without going into a proper application - just at the research stage currently but would be interesting to see how the rates compare to those only lending up to 4.5/4.75.

Thanks

Have you thought of using the services of a professional mortgage broker? There are a couple on here or ask friends for a referral! Word of mouth is generally the very best way to find someone.

Any additional fee or costs would generally be offset by savings but even if not, the whole process should be much smoother and less time consuming using a broker. Good brokers will often liaise with third parties also meaning way less stress and confusion. Don’t dismiss the idea out of hand.....

[matt3001]

OP have a chat with Sarnie.

He's done my BTL (twice) and home resi (now twice). Top bloke and knows the market like the back of his hand.