
Hi all,
I would appreciate help on understanding how much i can borrow?
I want to buy a property by myself.
My salary is £67500 and my outgoings montly as im at home is rougly £500/month.
Ideally I want a house which is rougly £550,000 and live it in and give extra rooms on rent (lodgers).
I have saved a quite a bit for a deposit, but if i know the maximum i can borrow i will know if im ready.
Thanks in advance

j1441 said
Hi all,I would appreciate help on understanding how much i can borrow?
I want to buy a property by myself.
My salary is £67500 and my outgoings montly as im at home is rougly £500/month.
Ideally I want a house which is rougly £550,000 and live it in and give extra rooms on rent (lodgers).
I have saved a quite a bit for a deposit, but if i know the maximum i can borrow i will know if im ready.
Thanks in advance
Hi, thanks for getting in contact and well done on the deposit.
Affordability and max borrowing is quite a complex subject in itself with an accurate figure requiring more of an assessment however a loose rule of thumb still tends to be in the 4.5x income region.
This can of course vary depending on overall circumstances and mortgage term.

David@SimplyAdverse said
Hi, thanks for getting in contact and well done on the deposit.
Affordability and max borrowing is quite a complex subject in itself with an accurate figure requiring more of an assessment however a loose rule of thumb still tends to be in the 4.5x income region.
This can of course vary depending on overall circumstances and mortgage term.
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Thanks for the reply.
I was hearing rumours that they are giving up to 6x salary.
Paul Carmen
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