How much can I borrow?
Mortgage solutions that will make your mouth water
The European view of lending and borrowing is very different to the one adopted in the UK.
In the UK mortgages are based on an income multiple system when working out how much a person can borrow. For example three times the main income plus an additional income. Also in the UK we have a wide range of mortgage products that are flexible and allow us to borrow more and in different ways. For example Buy to Let mortgages where the mortgage is not based on your income at all.
In Europe the view on debt in general is that it is a last resort and should only be used when absolutely necessary. Because of this view, European banks adopt the policy that the total amount of money spent per month paying back debt should be no more than a third of your total net income.
Please use the calculator below to determine how much you can afford to borrow.
These amounts are a very rough guide only as many other factors can have a large effect on the amount that you can borrow and the interest rates. For an accurate quote please click here or call 0800 298 5136 to speak to a specialist advisor.
