The Honest Agent: Q & A

If the switch was not in an obvious place, I think it would be reasonable to ask them to at least go halves on the cost. £70 is a ridiculous charge for a call out fee anyway. We paid that much to get our dryer fixed and that took over an hour. 

Here's a question. If my husband were to make about 40,000 pounds per year, and we had 50,000 pounds for a down payment, what is the highest house price we could get a loan for?

Thanks.

Here's a question. If my husband were to make about 40,000 pounds per year, and we had 50,000 pounds for a down payment, what is the highest house price we could get a loan for?

Thanks.

pianohouse (my husband) is at work and UK-Y is blocked, but he told me to say:

In his general experience, you can GENERALLY get a mortgage for up to 3 x annual salary (5 x for a couple) plus the deposit.

He also says that he is not a qualified mortgage advisor and can only give anecdotal examples.  However, a lot of estate agents can recommend a mortgage advisor that will give free advice (if they charge, DO NOT USE).

disclaimer- i got my mortgage 3 years ago when things were different.

but, i was told that if I have >25% value of the house, the mortgage company would lend me just about anything b/c their load/value ratio was very good (ie- i was a low risk).

i would second the advice of talking to an independent- (NOT tied to a bank) WHOLE market mortgage broker.  nothing like hearing it from the horses mouth!

pianohouse (my husband) is at work and UK-Y is blocked, but he told me to say:

In his general experience, you can GENERALLY get a mortgage for up to 3 x annual salary (5 x for a couple) plus the deposit.

Thanks, Aless, for passing on this information.

So, is it 5X the salary only if both people in the couple are working?

Thanks, Aless, for passing on this information.

So, is it 5X the salary only if both people in the couple are working?

Yeah, I think so.  Obviously, different banks will have different offers...the 3x/5x is only meant as a very rough ballpark.