what income multiplier did you take out on your mortgage?

[Piffle]

not after actuals just curious about what is average
3 x salary?
More
Both incomes or how do they calculate it?
Dp is curious as he thinks 3x salary is high but I say plenty get mortgages on bigger multipliers thanthat?

Interesting about switching to an interest only mortgage for a couple of years lucykate. We hadn't even considered that, but it's worth looking into.

We can take a six month payment holiday on production of my MATB1, but we did it last year when I had DD and six month holiday = no change in amount owed for 12 months, so we're not sure whether to do it again or just struggle along.

We have an interest only mortgage, always have, and we pay into various other investments to cover the rest.

No idea why, but apparently it was the best option. DH is in charge of finances and has a financial advisor who sorts out all that stuff, various other pensions and boosts to DH's life assurance as well so if he pops his clogs DS and I won't starve.

[clueless]

similar here flowery; we have various life assurance thingies and are actually worth more to each other dead than alive at the minute!

I say this because we were busy overpaying not saving separately
Our kitchen needed redoing after a rotten floor ( insurance only paid for floor)
Housevalue was reduced due to state of kitchen
We remortgaged by 5% of housevalue in order to do this
House value will go up by 20% once work done
Hence my using cheated
Had we saved and not overpaid we could have done it for cash!
Swings and roundabouts
But once we've remortgaged and done work our loan to value ratio will be better by a fair bit to what it is currently!
Affordability not an issue for us as it is the only debt we have.
Does that make any sense?

I'm not sure I am worth more dead than alive to DH, as my earnings are small at the moment, but my life is insured as he would have to fork out for f/t nanny care and cleaner if he wanted to stay at his job.

He's almost definitely worth more to me dead though

He's very prudent about these things. So much so that when arranging a leaving date for his employment (he's changing jobs), he caused havoc by insisting on having his last day of employment as the Sunday before starting work on the Monday, as otherwise we'd be two days without his significant death in service pay out and he was worried he might get run over by a bus in those two days. Bless!

It was between 3-4x at the time I think - we knew DH's salary was about to increase by quite a lot so felt secure it doing so.

At the time we were offered a far larger mortgage if we had wanted one. They are much more cautious at the moment though; very reluctant to hand out to much at all.

Similar to flowery in that we have all manner of insurances and assurance policis. Both DH and I are very well insured, and are worth far more dead than alive at the moment, in financial terms.

lol flowery....he sounds very cautious!

When we took it out 3x joint salary. However, we took it out when newly qualified and so knew that salaries would increase significantly although still terrifying. Now its about 3x Dh's sole salary as we've paid a chunk off...

When it comes to that kind of stuff he is yes, I think he feels a keen sense of responsibility enhanced by the fact that his income has always been so much bigger than mine, or than anything I could earn doing what I do. So if he suddenly disappeared he wants to make sure we wouldn't lose the house or anything.

When it comes to spending our actual income he's less cautious I have to admit...

aren't they all flowery

right off to try and do something about earning some more money and keeping us from being repossessed for another few months at least