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How much can I borrow for a mortgage if I earn £75,000 or £100,000?

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The biggest banks and building societies typically lend between four times single and joint salaries up to 5.5 times single and joint incomes.

If you are a single applicant with a clear credit history earning at least £75,000, borrowing up to £412,500 may be possible. If you have a partner going onto the mortgage and they earn £75,000, this could increase to £825,000.

With a £100,000 salary, a single applicant could borrow up to £550,000, and with a partner also earning £100,000 added to the application, the loan could rise to £1,100,000.

Aaron Strutt, product director at Trinity Financial, says: "The lenders use affordability calculators to determine how much you can borrow, and the maximum loan sizes can vary quite a lot. Some providers are much more generous if you do not have debts like credit cards or loans, while others look more favourably if you are consolidating debt.  

"The strange thing about the mortgage market is how lenders calculate the amount they will lend using different figures. Some use the Office for National Statistics to generate national averages, while others use their figures. Some ignore pension contributions and living expenses, while others will not reduce the loan by such a large amount if you have children or kids in private school."

Smaller building societies offering higher income multiples for a mortgage

Some smaller building societies provide the most generous income multiples in the market, although they typically charge the highest rates. 

Many work on a true affordability basis, provide interest-only options and increase the loan size for certain borrowers. A few lenders provide up to six times the income for higher earners.

Call Trinity Financial on 020 7016 0790 to secure a more generous mortgage or book a consultation 

The information contained within was correct at the time of publication but is subject to change

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage  

If you are planning to purchase you will need a 10% deposit while we wait for the lenders to bring back 5% deposit mortgages.

The 5% deposit mortgage have been almost completely withdrawn because of the coronavirus and the potential effect on house prices.

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