Mortgage advice

[jaisunny]

Can anyone give a quick guesstimate as to what I could burrow based on my circumstances?

I'm a full time employee and on 22,500 a year based on 37.5 hours a week. I never, ever do 37.5 hours per week though.

Every day I work 11 hours. I am on a dedicated job where I cannot finish earlier than 6pm. And I start at 7am. The company call this "an 11 hour route". So I take home quite easily 33 to 35k and have done since I've been on this fixed 11 hour route for the last 5 months.

So how does the mortgage work based on my financial circumstance? Do they take 22,500 as my annual salary or 33/35k? How much could they lend me? Any idea guys?

[echat11]

There are lots of other factors, your credit score, are you married, your age, there's so much, then you need a 'dancing algorithm' that says 'yes'.

It's just not that easy to nail down.

[jaguarsuk]

This is not a money advice website and our specialities are in law not financial services, you might be better going on a dedicated money advice site or even better contacting a mortgage broker.

[jaisunny]

echat11 i guess I didn't explain myself properly. I know there's many factors in getting approved for a mortgage. Let me ask the question again in more detail.

My friend told me that her mortgage broker advised her that generally you can lend 5x your salary.

Seen as my salary on my contract is 22,500. Is the 5x based off that or based off what I'm actually consistently earning every month which is 33-35k.

[echat11]

echat11 i guess I didn't explain myself properly. I know there's many factors in getting approved for a mortgage. Let me ask the question again in more detail.

My friend told me that her mortgage broker advised her that generally you can lend 5x your salary.

Seen as my salary on my contract is 22,500. Is the 5x based off that or based off what I'm actually consistently earning every month which is 33-35k.

It's more likely to be 4 or 4.5 times your salary, there are still a few who will do 5 times your salary. But you need to look for them.

I think you mean annually.

'based off what I'm actually consistently earning every month which is 33-35k'.