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How much can I borrow?

Helping you to determine your borrowing capacity
How much can I borrow

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What amount can I borrow for a mortgage?

The amount you can borrow for a mortgage depends on various factors, and lenders use specific criteria to determine your borrowing capacity. Here are some key factors that influence how much you can borrow:

What criteria will determine how much I can borrow?

Income

Lenders typically assess your income to determine your ability to repay the loan. This includes your salary, bonuses, overtime, and other sources of regular income.

Debt-to-Income Ratio

Lenders consider your debt-to-income ratio, which is the percentage of your gross income that goes toward debt payments. This includes existing debts such as credit cards, car loans, and student loans.

Credit Score

Your credit score is a crucial factor in determining your eligibility for a mortgage and the interest rate you'll be offered. Higher credit scores are generally associated with better loan terms.

Deposit

The size of your deposit affects the loan-to-value ratio, which is the ratio of the mortgage amount to the property's appraised value. A larger down payment may allow you to borrow more, and it can also influence the interest rate you're offered.

Loan Term

The length of the mortgage term can impact how much you can borrow. Shorter loan terms often come with higher monthly payments but may allow you to borrow more at a lower interest rate.

Interest Rates

The prevailing interest rates in the market will influence your borrowing capacity. Lower interest rates can result in lower monthly payments, potentially allowing you to borrow more.
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How much can I borrow?

This information relates to residential property mortgages. Read about specific details on buy-to-let borrowing here.

To determine the specific amount you can borrow, it's advisable to consult with a mortgage advisor or use our online mortgage calculators.

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Making your mortgage work for you

Windsor Hill works closely with individuals to advise on all mortgage options to help you make informed decisions based on individual needs and circumstances.

Speak to one of our expert team members today to help you with your mortgage requirements at 01225 962 456 or email info@windsorhillmortgages.co.uk

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