Application Assessment
The major criteria a lender will use to assess your mortgage application are as follows:

Deposit

Usually a 10% deposit is enough. However, you may also qualify for a 100% loan or more.

Status

You must be employed or self-employed (with a minimum of 1 year's accounts.) If you are employed and working within an initial probationary period, you may still qualify.

Credit

You must be deemed creditworthy and able to meet your monthly commitments.

How Much Can I Borrow?

Lenders will determine your borrowing capacity based upon your "useable" income. The definition of "useable" can vary. For example, maximum borrowings allowed can range from 2.5 times up to 4 times your salary - and lenders may or may not take bonuses and commissions into account.

‘Non-status mortgages’ are also available, primarily for people who have difficulty proving their income - a common problem for self-employed people.




Interested in finding out more?
Call us on + 44 207 016 6767 
Alternatively click above to complete our online Mortgage enquiry form.

Your home may be repossessed if you do not keep up with repayments on your mortgage.

Alexander Associates Mortgage Brokerage represents St. James's Place Wealth Management Plc, which is authorised and regulated by the Financial Services Authority.