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How Much Can I Borrow?
Various lenders use slightly different formulae to calculate
the amount of money that they are willing to lend to
you. Although some lenders use an affordability formula
based on your monthly expenses and disposable income,
most use something similar to the multiples method outlined
below. You can usually find out what criteria will be
used by a particular lender by looking on their website,
reading their product literature or telephoning them.
Use this calculator to work out approximately how much
you will be able to borrow according to different lending
criteria. Remember that your individual history and
other circumstances can sometimes affect the amount
you can obtain, so use this only as an indication.
Please note: This calculator should be used for indicative purposes
only and should not be taken as representing advice. Always get a full quotation from
your lender or other professional adviser before purchasing a mortgage product.
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