How much can I borrow?

Buying your home is the most important financial decision you will make and most will require a mortgage to do so. To apply for a mortgage you must be over the age of 18 and generally the maximum a lender will usually allow you to borrow is around three times your annual salary.  This however can vary  depending on your other financial commitments and the lender you decide to use. It is always best to speak to an Independent Financial Advisor who can tailor your requirements and get the very best mortgage for your circumstances.

Deposits

Since the financial downturn most banks are now looking for a minimum deposit of 10% and some lenders are looking up to 20% deposit.

The best deals on mortgages are when you have a higher deposit and this also reduces the risk of negative equity.

Remember the Help to Buy Scheme will now allow you to move with a 5% deposit, for more information contact Laura in the office laura.beard@fineholm.co.uk

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