mortgage up to 5x salary

[dtr123]

i have just split from my missus boohoo. I have heard that you can get up to 5x ure salary for a mortgage and wondered if anyone knew which lenders offer this.

Much obliged as usual

[Im a BusyBee]

sorry I cant answer your question but you must be sure you can meet the monthly repayment of however much you borrow. The repayments on that ratio would be extremely high in comparison to your income i would think. Silly to stretch yourself so far you cant afford to live or at worst get in a muddle and end up with bad credit rating. It all sounds good but please consider how much you need to have comfortable life.

[dtr123]

Thanks for that, I have thought long and hard about what financial commitments I have and my wages etc. I just need to know because I want somewhere that is safe and nice for my 2 little kids when they come to stay and if pushing myself is the only way to do it then so be it.

At the moment I am doing about �800 a month into the joint account and so should be able to cover the bilss food and mortgage out of that.

Thanks for your concern tho.

[Postdog]

Don't know if they still do it, but my lender (intelligent finance) used to offer mortgages that went above the normal 25 year term. In theory you paid more as it was longer, but they were (are I should say) also flexible about overpayments, so the cost needn't be restrictive.

Given how hard it is nowadays to actually buy something, I'm sure there must be ways of getting one other than the standard deal. A mortgage advisor (independent one that is) would probably be your best bet.

[PinkFizz]

You can now get mortgages over 50 years - my friend has just done this,and if your income goes up you can lower the term to say ,30 years.