This depends on many factors, your income being the most important, but the amount a lender will grant you is also influenced by the amount of deposit you have (if any), your current outgoings (loans, credit cards etc) your occupation (professionals tend to be allowed to borrow more) and various other factors. Most importantly, you need to be comfortable with the repayments. |
The simple answer is that the more you have the better deal you will get. Nevertheless, you do not necessarily need any deposit at all as there are various 100 per cent mortgages available. There are even schemes which will allow you to borrow more than 100 per cent, allowing you to repay other debts at the time of purchasing your property. |