Mortgage Salary Multiplier

[cosytidy]

Hi
I'm trying to figure out if I can move. Does anyone know what kind of salary multiplier banks\BS use? I know they look at affordability but isn't there still an element of multiplier?
TIA

Just go on different banks websites and use their mortgage calculator and it will tell you.

Some banks are strict and only do 3x and others are more penient and do up to 4.5x.

It depends on your circumstances as well

Affordability is paramount, you could earn £100,000k but if you're paying £5000 a month on a car, vs someone earning £75,000 not paying that chances are the latter would be offered more. As a pp says most mortgage companies have very quick simple affordability calculators on their websites.

Last year some banks/BS (Inc Halifax) we’re still offering 5x. Hth!

It also depends on the repayment period, the debt pushers (aka banks) like their debt slaves to be lifelong these days.

@jemihap so true! We are remortgaging and they will only let us borrow what we need if we do it over 35 years even though we're borrowing £80,000 less than what their initial affordability calculator suggested we could have, our outgoings aren't ridiculously high. We are just going to overpay though to the payment we can afford which gets us to the term we wanted.

Thanks, hadn't realised you could get an idea direct from the BS' website. 4.5-5x is what I'd need. Thanks!