Illustration
Mortgage on a £30,000 salary
Lenders assess affordability differently. The table sketches a range. It does not say the salary can borrow a set amount.
Illustrative range, not a borrowing offer
Lenders assess affordability differently. The 3.5x to 4.5x band is a way to sketch a range from income after the commitments you enter. It is not what somebody can borrow.
| Multiple | Illustrative mortgage | Property budget | LTV | 25-year payment |
|---|---|---|---|---|
| 3.5x | £105,000 | £130,000 | 80.8% | £583.62 |
| 4.5x | £135,000 | £160,000 | 84.4% | £750.37 |
Commitments are subtracted in full from gross income before the multiple. Real assessments also look at credit, term, dependants, expenditure and the property. Joint income here is the two amounts added together.
MortgageConnector is a mortgage broker introducer and information service. We do not provide regulated mortgage advice. Where appropriate, we can introduce you to an FCA-authorised mortgage broker who can assess your circumstances and provide advice.
The matching service is free for you. Partner brokers pay MortgageConnector for introductions. If you ask for an introduction, the details you submit are shared with the selected partner. The broker is responsible for regulated advice. Check the firm on the FCA Register.
Your home may be repossessed if you do not keep up repayments on your mortgage.
These figures are illustrative.
An FCA-authorised broker can look at the actual income, credit and property. MortgageConnector introduces you. We do not choose the mortgage.
Find a broker