Mortgages........?

Does anyone know of any mortgage companies who will lend 4-5 times salary? We are not first time buyers but are struggling to get a bigger mortgageMortgages........?
Northern rock just lent us 4.5 our salary plus an unsecured loan at the same rate to top it up. so for our low joint salary of 拢27000 we borrowed 拢130000 on a 100% mortgage over 30 years the rate is a bit high but 拢120000-拢130000 is the starting price for houses in our area so had no option it worked out at 拢775 a Month on a repayment mortgage which is manageable when you compare it to rental costs.





Hope this helps and Good luck.





p.s. Just remembered a couple of weeks ago we went into our lloydstsb branch and the mortgage adviser collared us and put our figures in, and said he could match our current mortgage but not beat it and that mortgage multiples are not such a big thing now.


Things must be changing because 6 months earlier he only offered us 拢90000





p.p.s. We are locked in for 5 years but after that you can always shop round for a better dealMortgages........?
most mortgage lenders will,negotiate with them,especially if you are under 35,tell them all earnings including bonuses/overtime,try for a longer mortgage ie 30/35 years.but remember no lies as your home is at risk..
loads of them do, even some of the mainstream ones. Just off the top of my head, try Intelligent Finance and HSBC. They won't say they're lending 4 times salary as they fix the figure according to 'affordability', but that is effectively what they'll lend. I would start with a mortgage broker, who will know which companies lend the bigger multiples.
A mortgage is a document signed by a borrower when a home loan is made that gives the lender a right to take possession of the property if the borrower fails to pay off the loan.





When buying a house or refinancing your home, you first need to compare the mortgage options available. The next step is to compare mortgages and find the best mortgage rates available. Find the best mortgage rates at HoldMortgage.com.
Do a no documentation or no ratio loan. This way you don't have to find someone to lend on such a high debt-to-income ratio.
If you don't qualify for a conventional mortgage....that's a good indication that ';you don't qualify.';


Have you heard the expression: ';Don't bite off more than you can chew.';


I think people should buy the cheapest house they are willing to live in. That way, people may have some money left to save.
There's no way. You are asking for certain trouble if you would find someone to do this for you.
Dont' know of any Banks that will do this but you might try a second mortgage as an alternative.
Sounds like you will need to do a stated income program, no doc or no ratio program. When a lender states your income, they don't prove it with pay stubs, W2's or tax returns. The income they state has to be reasonable for your profession or the underwriter (loan approving) won't accept the mortgage application for approval. No doc loan means to not list anything for your income (source or how much). The rates tend to be higher on these type of loans (thus a higher mortgage payment). You want to make sure you have a comfortable mortgage payment, so your property does not go into foreclosure.