How much do you need to be earning to get a mortgage?
Asked on May 23 2011,
General in Buckley |
Most lenders require an income of 25,000 (for a single mortgage borrower) to be able to access their usual offers. Below this they may have higher interest rates, although mortgages are still available. Most mortgage companies state minimum earnings clearly in their key facts/terms
It is also worth considering your debt as the amount they lend is now based on 'affordability'. More debt means they are less likely to lend, less or no debt makes the process much easier.
Answered on Jul 8 2011,
Contact an independent advisor, we have one and he can shop around and tell you what you need to know. Different lenders offer different deals so let someone do the searching for you.
Answered on Oct 16 2013,
I earn 8000/ year and I got income support 570/ month
Answered on Aug 28 2015,
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