How much mortgage money can I borrow?

[itssunnyandshiny]

I have a decent deposit and don't need to borrow too much hopefully (but in these times who knows).

If I earn £35,000 how much would I be able to borrow?
I have no debt.

How much deposit do you have?

There's plenty of mortgage in principal calculators if you google it, a bank will have a better idea than anyone on MN.

I’d expect around £153k max depending on outgoings/dependants and age

Your credit score definitely has an impact on how much the mortgage lender will fork over, as well as how long you've been in your job and how secure the industry is. The upper cap is about 4.5 times your salary before tax, so in your case 157,500. But your credit rating would typically need to be excellent for that much

Based on just over 32k, my bank were willing to lend me £140k... I think.

I didn't go that high though, and I put down £27000.

If that helps in any way.

Yes it does help thank you heads.

My credit score should be good as I pay everything on time and pay off manageable debt quickly.

Where could I check?

Lots of mortgage lenders have tools like this.
www.landc.co.uk/online/mortgage-finder?ICID=PPCgen&gclid=Cj0KCQjwpImTBhCmARIsAKr58czo81qen6SVFIXYKnimew1NYoWlYC9MkRiA_5bS0jw7g2iKkxstk2UaAtd3EALw_wcB

Check what they would lend you? Any of the bank/building society websites will have a calculator within their mortgage section.

Or comparison sites like Money Supermarket, Compare the Market.

Oh thank you Pickachew
I think I have heard of London and country. Mortgage broker type I think.

I just wanted to get some idea before approaching a broker my friend recommended.

I am unsure whether how much deposit I have makes any difference to how much they will lend.

I like to ask Mumsnet first as I think up to date experience and advice is a good start.

As there are all these bidding wars out there for property, do people just borrow the maximum they can? What if they ask for an amount and then find a property for less than they have asked to borrow?

What if they ask for an amount and then find a property for less than they have asked to borrow?

That’s not how it works. You get an ‘agreement in principle’, which will usually reflect the maximum you can borrow. You don’t actually apply for the mortgage until you know how much you need (ie you have had an offer accepted).
Most banks/building societies have an online mortgage calculator which give you a very good idea of how much you’ll be able to borrow. They are as ‘up to date’ as any advice anyone here can give.

The bigger your deposit, the better rate of interest you'll get, so the lower your repayments will be.

The lender will give you an agreement in principle - telling you what they are prepared to lend you, if you haven't yet seen a property you're interested in. They will then apply that to whatever property you are interested in, but things like home report will decide what they'll lend for that particular property.

They will often lend higher than the standard multiplier if you have a bigger deposit, and you will get a better interest rate.

Nah Readytomoveit look at all the extra info I'm getting from experienced people. All those extra tidbits are very much appreciated by me. As far as I know online calculators don't caveat. I know about calculators I prefer people who give crucial extra information.

I have been offered excellent advice and learned a lot from the likes of Lunar , Headsallovertgeplace , pickachew, knifer etc. I really appreciate it.