The good news is that many lenders take a flexible approach to your income!

While an income multiple is used by lenders often other factors come into play that will allow you to borrow more.

Factors include:

• The deposit you have - the more deposit you can put down, typically the better
• Your total income situation - income from all sources e.g. commission, dividends, rent, including the income of anyone you are buying with. Some lenders will factor in family or friends' income. A joint borrower sole proprietor mortgage is a mortgage where the buyer can add a family member or friend's income to their mortgage application
• Your monthly outgoings - what financial commitments you have every month will come into play
• Your credit history - do you know what your credit score is? Lenders will look at your credit file before deciding to lend. We recommend you check your credit report
• Your employment status - employed, self-employed, retired
• Your residency status - UK resident, UK national living and working abroad, foreign national living in the UK

Important: The above calculations are to provide you with an example of what you could borrow and are not guaranteed