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Moneyfacts Reports Many Mortgages Available At 6X Salary

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Just looking out of curiosity, and it reports 521 results at 6x salary and 65% LTV. Initial monthly payments are only very slightly more than my current rent (which is about 40% of my net salary) on a property worth probably 20-25% less.

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Just looking out of curiosity, and it reports 521 results at 6x salary and 65% LTV. Initial monthly payments are only very slightly more than my current rent (which is about 40% of my net salary) on a property worth probably 20-25% less.

You can still get high multiples if you have a big deposit.

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Just looking out of curiosity, and it reports 521 results at 6x salary and 65% LTV. Initial monthly payments are only very slightly more than my current rent (which is about 40% of my net salary) on a property worth probably 20-25% less.

I wonder how many there actually are once you move past an internet search and onto talking to the banks.

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You can still get high multiples if you have a big deposit.

I struggled to get a 2.5x single income mortgage arranged for the HSBC lifetime tracker deal (base+1.69%). That's with a perfect record, minimal monthly expenses and more than 50% deposit.

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In this morning's paper there was a HSBC ad for a 5-year fix at 3.49% (or 3.89%, can't remember), up to £500k. I was slightly shocked, until I saw that the maximum LTV was 60%.

So high salary multiples still around, but big deposits needed. I think there will be a few biters for these, and the wait continues until the money dries up.

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Just looking out of curiosity, and it reports 521 results at 6x salary and 65% LTV. Initial monthly payments are only very slightly more than my current rent (which is about 40% of my net salary) on a property worth probably 20-25% less.

I think that's fine, so long as the LTV is enough to ensure that whatever happens to the market a repossesion would result in the bank getting all their money back. That way it is not a great risk for the bank.

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Something I have noticed when using mortgage searches on sites like Moneyfacts and Moneysupermarket is that the salary multiples they give are often higher than those available when checking direct with each individual lender.

I wonder if the search sites are deliberately slightly 'overgenerous' with multiples in order to get more hits?

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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