What mortgage can I get approved for?

It goes without saying that the mortgage you can get approved for really comes down to several factors. The combination of these factors will determine what mortgage will be best suited for you, and this will be set by the lender based on how much confidence they have that you will be able to pay it back. So, what are the factors that affect mortgage eligibility? 

Each lender is different, but there are a few criteria which apply to all the lenders when they are deciding how much money to lend you. 

The criteria will usually include how much you want to borrow, as well as your deposit. In addition, the type of property you want to buy will play a role. You should bear in mind that it could be more difficult to find a lender who is willing to lend on high-rise flats, properties above bars and cafes, or listed properties for instance. Your employment status, debt, regular spending, credit rating, and how affordable the mortgage is for you will all play a role in how much you will be eligible to borrow. 

If you want to easily work out a rough idea of what mortgage you could get approved for, then we recommend using an online mortgage calculator. You will have to input information to get an answer for how much you could expect to get approved for. 

If you want to get a more certain idea of how much mortgage you could get, then do get in touch with our helpful team today. 

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