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How Much Can I Borrow for Mortgage UK as a First Time Buyer

Alex Kerr - Mortgage Chain Ltd 15 views

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Hey, when you say certain lenders are more willing to give 6 times your income, which ones do you mean?
Comment from : @MegaBabro

How much is took off for dependants? I and my daughter would be a depndanant on my partners mortgage Would this effect how much he could borrow and if so how much ? Thanks
Comment from : @steff6682

Hi, I've read that lenders only use 3-5 of credit card debt for the mortgage affordability calc? If for example I had £2000 on a 0 credit card and another credit card card with a monthly use of £500 but paid off each month, what figure would be used for the mortgage affordability calc?
Comment from : @alpeshlad9831

Which lenders are doing 55x multipliers for those over £50k?
Comment from : @stevie3452

Video are really help as I’m hoping this year or early 22 is when I will be able to buy I’m a teacher and my salary is good, but I have a HP car finance Would it be best to use the money I have saved for my deposit to pay off my finance and start saving afresh?
Comment from : @eddieclugi

If I have have a 24k deposit and I want a house ranging between 150-160 What are my chances of getting a mortgage provided my income is within the 30k range
Comment from : @ruemunhuwa5450

my biggest issue is the joint application income costs - do they just work it out for both of you combined or take the combined income and split it between two?
Comment from : @neojng

Hi Alex, I'm 17 nearly 18 and was wondering whether it was the same for a BTL mortgage? I am currently working as a lifeguard on a zero hours contract and was wondering what the situation would be for me to put a deposit on a 80-100k house to be rented out as a HMO?
Comment from : @Ninders

Hi alex , I have a 25k deposit but only on 20k per year , what price range property should I be aiming you ? Many thanks
Comment from : @casperx1513

lets say my profession is bus driver that earns £26,000 before tax and i want to buy a 220,000 house and put in £25,000 depositbrbrhow much would i be able to borrow? will i be able to have enough to buy the house? and also if i use my lifetime isa for deposit can i use my isa that has extra saving added to the deposit for a house?
Comment from : @numans9741

Hi Alex Great video by the way! I work in the civil service as Economist and make around 35k per year Are there lenders who are willing to loan 190k-200k under these conditions? I have no outstanding debts and 967 score in Experian
Comment from : @albertosoriano5292

When you are taking away liabilities from your income, does the calculation work the same for car finance rather than any other credit such as credit cards etc?
Comment from : @ryanhobbs3143

Hi Alex brI am looking for a mortgage broker to purchase a 1 bed flat, how can I contact you???
Comment from : @syedsibtanhussain3831

Hi thereMortgage has been submitted but I’m a little worried about NatWest looking at my bank statements I have a good credit score with no adverse on my report (no missed payment or late payments) reason I’m worried because my account is overdrawn (in the agreed limit) my partners are not overdrawn, will this give me an issue? brbrI’m not worried about income as we are both nhs workers and have been earning well even during the lockdown brbrWe are using help to buy and exchange of contacts are not until end of August/ September time
Comment from : @dariangower3410

Would a letter from my employer stating an increase in salary starting in two months time be acceptable for a mortgage application? Or would I need to be earning this new salary already Thanks!
Comment from : @xmCoGxm

Hi Alex, could you do a video about what happens when you receive the contract, things to look for, questions to ask etc? Thanks! :)
Comment from : @louba21

Can you make a video about Stamp Duty and the fact it doesn't need to be paid on the first 500k now!
Comment from : @vincentelhoste

Thanks alot for the advice I've only just come across your channel and you've gained a new sub brbrI'm getting a question 'how much is your total monthly financial commitments ?'brbrLike u mentioned, is this just anything u owe on credit or do they want u to include direct debits, groceries, travel, etcbrbrI would really appreciate if u can clarify Thanks
Comment from : @moh7354

Hi Alex, just started watching your videos recently and found them very insightful Wondering if you could give me some advice I have a huge student loan (close to 90k) Will that have a negative effect on how much I can borrow? I have a Civil Engineering degree and am looking to buy a 250k home in the future, what kind of income would I need to be aiming for assuming a 10 deposit? Would a specialist lender be a better option? (Currently self-employed - ltd company)
Comment from : @Ageaw

Hi Alex great video again, just a quick one me and my parents are looking to buy a property Can I and my mom and dad all be on the same mortgage application while applying and does calculations works the same? So all our 3 income times it by 45?
Comment from : @Salehsaf