How much can I borrow?

You can in certain circumstances borrow up to 95% of the property. The same will also be said of a 90% mortgage, but you will pay slightly over the norm. By and large an 85% (and under) mortgage is the normal.

In terms of your income you can typically borrow up to three and-a-half times the main earner’s income before tax, plus one times any second earner’s income, or alternatively two-and-a-half times your joint incomes (if this is larger).

Your lender may only count half of income such as overtime, commission, or bonuses unless this is guaranteed. Lenders will reduce the amount they will lend if you have substantial outgoings such as other loan payments.

Other lenders will lend more and we will be happy to talk to you about this and give you the appropriate advice.

Other Mortgage Frequently Asked Questions:

• What are your fees?
• What are the different types of advisers?
• Is Worldwide Financial Planning Independent?
• How quick can a mortgage application be?
• Do I need to arrange a meeting with you?
• How much can I borrow?
• If I have bad credit will It affect my mortgage?
• What other fees might I pay for a house purchase?
• Do advisers need to be qualified?
• How are mortgages regulated?

‘Your home may be repossessed if you do not keep up repayments on your mortgage’