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21 Oct 2018

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100% Mortgage Income Multiplier

100% Mortgage Income Multipliers Explained

Due to the "credit crunch" there are currently no 100% mortgages available, when the situation changes we will update this site.

With 100% mortgages some mortgage lenders offer higher income multipliers than their normal income multipliers. Income multiples are used by lenders as one calculation in determining how much they are prepared to lend on a mortgage. In the example of Northern Rock Bank your credit rating is used and may get you an income multiplier of 5.4 times your salary when taking out a five year fixed rate mortgage with a high credit score. Examples of income multipliers given below are as a guide only.

It now is becoming increasingly difficult to know what a mortgage lender will lend without having your mortgage agreed in principle. For more information on income multipliers and how much you can borrow on a mortgage or remortgage please contact us for mortgage advice today, or complete our Mortgage Agreement In principle form.

 

Gross Basic

Income Band
High Credit Score Medium Credit Score Low Credit Score
Single Income Joint Income Single Income Joint Income Single Income Joint Income
Over £100,000 5.4 5.9 5.4 5.9 5.1 5.6 4.6 5.1 4.0 4.5 3.2 3.4
£32,501 - £100,000 5.1 5.6 5.1 5.6 4.8 5.3 4.3 4.8 3.8 4.3 3.1 3.3
£25,001 - £32,500 4.8 5.3 4.8 5.3 4.5 5.0 4.0 4.5 3.7 4.2 3.0 3.2
£17,501 - £25,000 4.5 5.0 4.5 5.0 4.3 4.8 3.8 4.3 3.6 4.1 3.0 3.2
£10,000 - £17,500 4.3 4.8 4.3 4.8 4.1 4.6 3.6 4.1 3.5 4.0 3.0 3.2
£0 - £10,000 4.0 4.5 4.0 4.5 4.0 4.5 3.5 4.0 3.5 4.0 3.0 3.2

Standard example 100% income multiples shown in black, those for 5 year or longer flexible fixed rates are shown in orange. The above income multipliers are only a guide to the available 100% income multipliers, for professional 100% mortgage advice please complete are mortgage advice form.

 

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We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

Go Direct.co.uk is a trading style for website purposes of Go Direct UK Ltd.

Go Financial Services is a trading style of Go Direct UK Ltd which is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales Company 5703224. FCA Number 456600

We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500

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