home extension loan

exit finance

exit finance

"... on one current case, lenders figures varied from mortgage affordability of from ₤ 172,843 upto ₤ 247,000 ...".

How much can we borrow on a mortgage?

We also work with partner companies to help people once they have built their own self build homes, to get back and exit into mainstream mortgage lending.

Sometimes in mortgage lender speak this can be called  exit finance 

 

Well it can vary widely from one lender to the next. QuestFinance.co.uk can check affordability across 42 lenders – With one single affordability check across 42 mortgage lenders, banks and building societies, all in one single go!

We have access to expert tools and systems, that enable us to evaluate affordability across various banks and mortgage lenders. Understanding how much you can borrow towards that next purchase can be a real advantage. Similarly for those requiring to ‘stretch’ their spending plans to get that home/ amount they require, it means we can see which lenders might provide the most.

Although many lenders embrace a typical style of 4.25 or 4.5 x wage as a lending guide, what they class as earnings can vary widely. for instance some may just utilize 30% or 50% of commission or overtime, some may overlook or use child advantage payments, and all of these different elements can suggest quite a difference in terms of what borrowing power you might have.

home extension loan

Examples of how much you can borrow

Here’s a couple of recent calculations.

Example 1 = Married couple, ₤ 52k pa in salaries, looking at 22 year terms the lenders figures ranged from mortgage affordability of from ₤ 172,843 upto ₤ 247,000.


Example 2 = Single Person, ₤ 41k pa income, 20 year mortgage term, ranged from ₤ 66,300 to ₤ 185,886.

You could do all that checking yourself by hand, by going to each of the 42 lenders websites, putting in all your details names, dates of birth, address and contact information, your incomes, your outgoings, loans, credit cards etc – however how long would it take you to do that 42 times?.

or you might use a mortgage consultant, like Questfinance – the worth of mortgage advice is we have the tools, systems and proficiency to discover you the very best deal.

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