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How much can I borrow?

This depends on your personal circumstances, such as you income and expenditure and whether youíre buying alone or with a partner.

Key things to think about.

How much you can borrow:

Lenders should lend responsibly.† This means they should consider whether you can afford the mortgage repayments now and throughout the mortgage term.† For example, some lenders offer a discounted rate to start with, but will you be able to afford the repayments when the discounted rate ends??

Mortgage lenders have in the past offered to lend a sum based in a multiple of your salary (before tax) or your income if you were self employed.

If you have other money coming in such as bonuses, overtime or commission, lenders may take account of only half of this because it isnít guaranteed income.

It is more common now for lenders to make an affordability assessment when calculating how much they will lend you.

Each lender has its own method, but generally they all try to calculate your disposable income, taking account of:

  • Your total income.
  • Any money you owe, such as loans and outstanding credit card balances.
  • Any household bills and living expenses.


As well as considering whether or not you can afford the mortgage payments, the lender sets a limit on how much you can borrow as a percentage of the propertyís value (the loan to value or LTV).






Simply Mortgages
62 High Street
LL57 1NR

Tel: 01248 371088


Legal disclaimer

Simply Mortgages is authorised and regulated by the Financial Conduct Authority.
Your home may be repossessed if you do not keep up repayments on your mortgage. Some Buy To Lets are not regulated by the Financial Conduct Authority.