We can check affordability across 42 lenders – With one single sweep, check affordability across 42 mortgage lenders, banks and building societies in one single go!
We have access to specialist tools and systems, that allow us to test affordability across numerous banks and mortgage lenders. Knowing how much you can borrow towards that next purchase can be a real benefit. Equally for those needing to ‘stretch’ their budgets to get that property / amount they need, it means we can see which lenders might lend the most.
Although many lenders adopt a common theme of 4.25 or 4.5 x salary as a lending guide, what they class as income can vary widely. for Example some may only use 30% or 50% of commission or overtime, some might use or ignore child benefit payments, and all of these different factors can mean quite a difference in terms of what borrowing power you might have.
Here’s a couple of recent calculations.
- Married couple, £52k pa in salaries, looking at 22 year terms the lenders figures ranged from mortgage affordability of from £172,843 upto £247,000
- Single Person , £41k pa salary, 20 year mortgage term, ranged from £66,300 to £185,886
You could do all that checking yourself manually, by going to each of the 42 lenders websites, putting in all your details, your incomes , your outgoings etc – but how long would it take you to do that 42 times ?
or you could use a mortgage advisor, like ourselves – the value of mortgage advice is we have the tools, systems and expertise to find you the best deal.