Pls feel free to name change but I would like to know what income multipliers you have been offered on mortgages and whether you accepted them.

[CountessDracula]

Following a thread today about this

Have you for eg been offered a mortgage of 5 times your joint salaries
or 10 times single?
or basically anything above the bog standard 3 time boths (as used to be the case)

Did you take it up?

Did the bank/broker or whoever advise you of what your repayments would be if interest rates went up?

Our rate has just increased from 4.59 to 6.19 and luckily I had enough to pay off a lump sum or else we would have been paying £400 a month more, and about £600 more if we were on the SVR.
We have fixed for a looooooong time as would be completely f**ed if we had variable or tracker rate and base rate went to 15%

july was the first time we went for a fixed rate, always had trackers before but didn't want to take the risk atm.

i think dh's main job is ok, he's a university lecturer.

But at interest rates definitely going up? We got a tracker just over a year ago and the only way they have moved is down - albeit not by much!

don't know about interest rates, i guess its a case of how long is a piece of string!, we went for fixed rate in july expecting rates to keep going up, then today it's in the news that a couple of lenders are back offering deals below 5% again, so who knows!

interest rates from 2000 to 2008 here

just posted this on the other thread

The advice I read was if you can afford for interest rates to go up ie money left over at the end of the month then you can go for a tracker/discounted etc, but if you don't (we don't) then safer to fix.
We have security in that we know we can afford the monthly repayment.
Yes they might go down again, but someone pointed out on here that actually 6% overall is a reasonable rate when you look at the peaks and troughs over the last twenty years.
We couldn't afford to gamble, and I feel [phew]

we are with NRock, fixed 3 yrs ago and were offered silly amounts, but only took 2.5 x joint...we now need to remortgage so as not to be on their svr of 7.69 and I'm so glad we didn't take silly multiples out when offered, or we wouldn't be able to remortgage now. Like others have said, housework - I think your are nuts

countess - ours is 6 times both
did not use a broker just bank
not 100% though like connies

stressing now!