How much is your home worth?
Knowing how much your home is worth forms a crucial part
of any lenders calculations as to how much money they will
lend you, we call this the LTV (Loan to Value). If your house
is worth £200,000 and you want to borrow £100,000 then your
Loan To Value is 50%. A maximum a lender will lend is 95% Loan
How much equity is in your home?
Let us know how much your current mortgage is for, we don't
need exact pounds and pennies but the more accurate it is, the
better.If you are a first-time buyer, then let us know how much
deposit you have saved.
How much income do you earn?
If you are employed then tell us your annual gross salary.
Include any bonuses or overtime.If you are self-employed, then
this is the NET Income that you paid tax on. This is called a
SA302, or Tax Calculation/Computation plus Tax Year
Overview. Include any additional income like child benefit,
maintenance, universal credit and tax credits.
As a general rule most lenders will offer around 4.5 times your
income. Although many lenders offer enhanced income multiples
for specific job sectors.
Any credit commitments or issues?
We all have moments in our lives where we did not manage to pay a
utility bill or missed a payment on a mortgage. If that happened to you
then let us know, it does not mean you can not borrow anything, it
usually depends on how long ago it was.Include any credit card debt,
personal loan or car payment commitments you may have.But the
more information we have about your situation, the better we can
serve you in finding the best mortgage for your lifestyle
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