How much Mortgage can you get?

Mortgages... How much can i borrow?

The question should not be "how much can i borrow?".. but "how much can i afford?" you should consult a financial or mortgage advisor who can go into your finances in detail and work out which product is best for you, and most importantly what you can afford now, and in the future if rates change. Consulting an advisor is not a comitment to buy a mortgage so dont worry.. just be sure the advise is free and the advisor is independent.

Many mortgage websites will have a calculator that will tell you how much you can borrow if you enter a few details.

This one is on mortgagefox.co.uk (my website)
http://www.mortgagefox.co.uk/free_mortgage_quote.php

As a general guide you can borrow up to 5 times your income nowadays if you are single, but you should make sure you can afford this

The amount each lender will give you varies from lender to lender and product to product, and depends on many factors. ie- If you a single, or a couple, your credit rating, any CCJ's or bad credit issues etc, if you need to self certify, if it is a remortgage / buy to let / first time buy etc etc.



As you think about applying for a home loan, you need to consider your personal finances. How much you earn versus how much you owe will likely determine how much a lender will allow you to borrow.
First, determine your gross monthly income. This will include any regular and recurring income that you can document. Unfortunately, if you can't document the income or it doesn't show up on your tax return, then you can't use it to qualify for a loan. However, you can use unearned sources of income such as alimony or lottery payoffs. And if you own income-producing assets such as real estate or stocks, the income from those can be estimated and used in this calculation. If you have questions about your specific situation, any good loan officer can review the rules.