Couldn't see any other threads on this but apologies if this has been done before.
We are looking to buy somewhere in outer London / Home Counties in the next year or so, and initially I am just trying to work out how much we are likely to be able to borrow. I have put our earnings into a few online calculators and get e.g. First Direct saying that we could borrow up to 4.5x joint income.
I just wanted to know whether this is actually achievable in practice - whether mortgage brokers are actually seeing that sort of lending at the moment. I'm just looking for a high level indicative view, I understand that it will entirely depend on individual circumstances and affordability (and to that end I will go and see a mortgage broker next week).
If relevant here is a bit of basic info - combined basic salaries are 120k, we have a deposit of 250k, and no debts or other financial commitments, we don't have children or other dependents.
We are looking to buy somewhere in outer London / Home Counties in the next year or so, and initially I am just trying to work out how much we are likely to be able to borrow. I have put our earnings into a few online calculators and get e.g. First Direct saying that we could borrow up to 4.5x joint income.
I just wanted to know whether this is actually achievable in practice - whether mortgage brokers are actually seeing that sort of lending at the moment. I'm just looking for a high level indicative view, I understand that it will entirely depend on individual circumstances and affordability (and to that end I will go and see a mortgage broker next week).
If relevant here is a bit of basic info - combined basic salaries are 120k, we have a deposit of 250k, and no debts or other financial commitments, we don't have children or other dependents.