If you’ve had a mortgage offer recently..

[Paddingtonthebear]

Would you mind sharing your income and your saved deposit? And your offer figure?

Joint income 86k
Mortgage 380k
Deposit 150k made up solely of equity

Joint income 167,000
Deposit 240,000 and the mortgage was 800,000. We applied on Monday and got the offer today. Extremely quick turnaround but the did a desktop valuation.

Joint income 59k, mortgage 290k with an 87k deposit

We moved during lockdown last year:

Income 50k
Originally planned to do a deposit 200k (not equity as we were first time buyers although I don't think that matters?!)
Mortgage offer was 217k max

House was up for 400k but we got it for 395k so actually put down a deposit of 195k and mortgage 200k

Wow. You all had massive deposits 😬

Joint income £75k
Deposit £120000
House price £298000, the offer came two days after application.

My DD and her partner
Income £90k joint
Offered £268k 4 bed detached house
Mortgage 90% ltv of £240k
Offer to Mortgage application to valuation to mortgage approval in 10 days.

Ours was last August if that's near enough, example of the lower end;

Joint income £33k
Deposit £16k
House offer was £98k so we borrowed £82k, apparently could have had up to £130k ish but we didn't want to stretch ourselves as FTB's with the uncertainty of covid.

Sole income 42k
Deposit 49k
Offered 195k

Was a remortgage to remove my ex so the deposit was equity

Single income - 36k
Deposit - 23k
Mortgage - 67k
House price - 90k

They were willing to lend me up to 155k but that was unnecessary for the house I wanted. Aiming to be mortgage free in 5 years.

Joint income £180,000
Deposit £192,000
Mortgage £678,000
House we are buying £870,000
Barclays Bank who have been very good (2 weeks from application to offer)

Single income 62k
Deposit- 52k
House price 290k

Some of the multiples here are massive, I'm jealous! When we were buying 6 years ago we had a joint income of 60k and we're offered 200k Max so had to put down a deposit of 100k for our house .

Interested in how people get such large deposits (not from equity?)

Joint income - £97,500
Deposit - £115,000
Offered - £415,000 (Mortgage £300k).

Joint income - 68k
Deposit - 146k (equity)
Mortgage - 219k

Income £50k
Deposit £60k
15year mortgage offered on £170k house easily. Expect to pay it off in 7 though.

We chose to ignore my income.

Income £30,000 ish (I'm a contractor so it varies). Deposit saved was £45,000. Got offered a 141,500 mortgage. Which luckily was enough for me to buy my 3 bed at £183,000 (South Wales) which I've just completed on.

Those numbers are high!
I guess it all depends where you live. DS (24) just bought a 3 bed semi.
Income £29000
Deposit £50000
Mortgage £9000

@Skyppy do you mean £90k not £9k mortgage?

Looking at close to £400k for a 3 bed semi here 😏

Very interesting thread.

Are banks and building socs not sticking to 4x earnings? I suppose credit score and LTV both play an important role.

I worry we won’t have enough deposit. We have two incomes but the majority of it comes from one salary, do lenders look at that unfavourably?

@Paddingtonthebear I commented further up, the 50k income is just my husband's (they didn't take my earnings into account because I work PT on a zero hours contract and we didn't need them to as we didn't borrow the max mortgage amount) - mortgage offer was 217k, borrowed 200k. This didn't seem to be an issue.

30k single income - mine wasn’t included because I’m self employed and covid has made lenders twitchy about that.

135k deposit
140k mortgage

275k house price