How Much Can I Borrow?
There are a lot of factors which determine how much you can borrow:
- age of property
- owner occupied or rental property
- location of property
- the amount of your deposit
However, the key factor is your ability to repay the loan. Repayments can generally not exceed 35% of your gross income.
You can borrow anything up to 95% of the value of the property, although 90% is the most usual.
This depends on a number of factors. The most important being: the amount of the loan compared to the value of the property (security) to be mortgaged, and your ability to service the loan.
Each lender has different criteria for assessing how much is required to service the loan and from where money may be used for loan repayments ie. rental income, boarders, etc.
We welcome enquiries from anyone seeking mortgage finance for their home, or anyone looking to refinance. We are also able to access commercial funding for rental properties and businesses.
We are proud to offer an unsurpassable personal service and would be pleased to meet you at your convenience to work through exactly what you can borrow and offer advice on loan structure and options to save you money.
|
