Maximum Loan & affordability

As a general guide use the following income based multiples to determine your maximum loan availability.  Calculations are based on no or low adverse (less than £250 CCJ, defaults) and no missed or late payments in the last 24 months 
If you require an accurate figure on maximum loan complete the form below.  We will calculate internally for each lender and provide you a bespoke figure. 

First Time buyer Special: Income greater than £31,000 and LTV up to 90%: 5.5x income if no adverse and low debt.

Incomeºº greater than £40k and LTV above 85% :4.5 x income Standard Lender*.

Income greater than £40k and LTV 85% or less: 4.75 x income – standard rate

Income greater than £50k and LTV 85% or less:  
– up to 5.5x income – Higher rate lender.
– up to 4.75x income – Standard lender

Income greater than £60k and LTV 85% or less: 
– 5x income – standard rate
– up to 5.5x income – Higher rate lender.

Income greater than £100k and LTV 85% or less: 5.5x income – standard rate

All Borrowers Special : High Income Multiples : income greater than £40k and LTV 85% or less with no credit or loans, minimum outgoings, perfect credit score: 6 – 7 x income – higher rate

ººIncome = Gross income minus annualised fixed loan & debt payments, e.g. Car loan payment monthly £150/m.  Annual payments equals £1800. Deduct 1800 from annual gross income before using multiples.  So if annual income is £40,000, use £38,200.

Credit cards, use 5% of outstanding balance, e.g. Current outstanding balance is £2000. 5% = £100 x12 = 1200.  Deduct £1200 from gross income before multiples.

*Standard rate = high street lenders.  Higher rate = Specialist lenders

Affordability Calculator form

For a full and exact calculation, complete and forward the form below.