4.5 X Income Multiple Or More For Mortgage In Uk

[Tlc15]

We live in the South East where house prices are crazy and expected to rise further in the next 3 years. My hubby has a bad credit score ( defaults from 5 years ago) so I'm trying to get a mortgage alone. We have seen a house we really want to buy. After living here for 3 years and paying a crazy amount in rent each month, we have managed to save 5% deposit. My bank will lend me 4.25 x income, which just falls short of the price the vendors will accept by 20k. We are looking at at 260k house, so a slightly higher income multiple will cover that nicely. Does anyone know of any lenders who may be able to do this? I know Nationwide will, but they said I need to save with them for 6 months before they would lend me. Urgh...please help before we are completely priced out the market, and stuck in this renting hell for at least another 5 years due to our work!

[buildersmate]

Mortgage broker?
They are better placed to advise on stuff like this.
We can only advise you to consider the risks if and when interest rates rise.
Perhaps not for a year or so, but long term interest plan should allow for a rise of 6-7%.

[buildersmate]

A rise to 6-7%

[New Judge]

Which amounts to about the same, bm !!! :-)