How much can I borrow?

Tuesday 18 July 2017 | 03:44 PM

One thing which often surprises our clients is the variety of different things which can affect the amount that they can borrow on a mortgage – and how the borrowing figures between certain banks and building societies can vary. It is a key area where a mortgage specialist can make a huge impact.


We would suggest the earlier that you discuss this in detail, the clearer you can be on what budget figure you can work to. Lenders will assess outgoings according to their own policy, however all of the following can influence the amount of mortgage available: -


  • Your age


  • Your income


  • How many years you wish to repay the mortgage over


  • How much deposit you have


  • Car finance payments 


  • Credit card debt


  • Student loans


  • Bank loans


  • Pensions


  • Childcare cost and school fees


  • Number of and type of dependents


  • Your overall credit score


A complex area with a number of variables, so expert mortgage advice is vital; the differences between the amounts that you can borrow on a mortgage from one lender to another can vary hugely depending on your own circumstances.


Why limit yourself to your own bank when we are able to look across the whole of the market place and potentially help you borrow significantly more? It could be the difference between your dream home and second best!


Paul Hardingham and Tony Ibson are Mortgage and Protection Advisers at Innovate Mortgages and Loans. Both have over 20 years of experience advising individuals and businesses across the North East of England. They can be contacted for bespoke advice at or or call 0191 223 3514.


Think carefully before securing other debts against your home.


Your home or property is at risk of repossession if you do not keep up repayments on a mortgage or other loan secured on it.


Innovate Mortgages and Loans is a trading style of Innovation Financial Management Ltd.