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How Much Can You Borrow?

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Go to Alliance and Leicester website and typed in I have income of £34,000pa and £10,000 deposit and I can borrow £148K!

AS long as the banks keep doling out money, prices will stagnate at this level.

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Guest Charlie The Tramp

Yes £10,500 of your net income, not much over to get on with your life.

Net income approx £25,000 less mortgage repayment £10,500 = £14,500 or £278 per week. Amazing what a bargain.

And there`s me thinking I am hard done by on £461 net per week with no mortgage or rent.

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Go to Alliance and Leicester website and typed in I have income of £34,000pa and £10,000 deposit and I can borrow £148K!

AS long as the banks keep doling out money, prices will stagnate at this level.

What are you doing wasting your time here then, if you can afford to get a chav flat in hell?

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all fair and well but you have to pay back £850 a month on repayment or £530 a month on interest only.

i think Interest only sucks as we all know everyone with interest only has no repayment vehicle which distorts the whole market!!

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Northern Rock lend based on credit rating. 4.1X joint salaries if you have high credit rating, 3.8X joint salaries for medium credit rating and 2.something X if you have low credit rating.

Just done the Alliance and Leicester one - they come out with about 5X joint salary.

Edited by Glitterygook2

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Guest muttley

Borrowing at 4 and 5 times your salary is all very well, but would you want to?

At this stage of the cycle I wouldn't recommend it, unless you have no other way of affording a property and are pretty confident about your job prospects.

Don't forget to check out repayments at higher IR levels....just in case.

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Go to Alliance and Leicester website and typed in I have income of £34,000pa and £10,000 deposit and I can borrow £148K!

AS long as the banks keep doling out money, prices will stagnate at this level.

If i lie, i can borrow 5,000,000. But that is immaterial as i know i cant afford the repayments on that

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  • 302 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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