Just how can lenders decide how far mortgage I am able to obtain?

Once you get home financing, the quantity you’ll be permitted to borrow might possibly be capped within a parallel of your own home money.

For the most part, most lenders will allow you to acquire to four-and-a-half minutes your annual money. It indicates while you are purchasing a house together with your mate and you will you have made ?31,000 per (?sixty,000 overall), you might be capable borrow around ?270,000, at the mercy of fulfilling brand new lender’s almost every other cost criteria.