Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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I haven't visited the bank yet. Planning on doing so in the next couple of months.
Been on Halifax, HSBC and Nationwide websites and based on my earnings and deposit I could get around 75-80k.
Question being - If I went to my bank would the amount they would lend me be roughly this or would they base it on monthly out goings and what I can afford each month? Add to this I bank with them?
I do plan to go see the bank but just wondered before I do.
[Edited on 25-06-2014 by Marc]
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Cavey
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Registered: 11th Nov 02
Location: Derby
User status: Offline
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It would probably be around that, not sure what they base it on currently, but I believe it's usually 4-5 times your annual wage.
You should be able to get preferential deals from your own bank though if you see them
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Marc
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Registered: 11th Aug 02
Location: York
User status: Offline
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5 times could be doable.
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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Waste of time going into the bank imo - person behind the desk is still using the computer to validate stuff.
As for multipliers, it used to be 5 times, looking more between 3-4 times these days for most products
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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Speak to these guys:
http://www.lcplc.co.uk/
They usually come highly recommended.
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VegasPhil
Premium Member
Registered: 16th Jan 05
Location: Fareham, Hants Drives: Octavia VRS
User status: Offline
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I went to the Halifax direct (both times). Came out with an AIP for much more than the online calculators.
Corsa 2.0 16v Vegas - Sold
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MarkM
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Registered: 11th Apr 01
Location: Liverpool
User status: Offline
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It's totally based on affordability. The x 5 salary is misleading as you might have lots of existing financial commitments. They'll ask for bank statements to assess what you can afford payment wise per month.
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fred7
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Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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They also take x amount into account for bills everyone has like gas etc. then give you your affordability. Its impossible to say what they will give because things change every week. Thats what halifax told me anyway
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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Saw the bank. They won't lend me much more than 85-88k. Thats with a 13k deposit. Even with 20k they wouldn't lend me more, only bring the repayments down by £28 p/m.
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Marc
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Registered: 11th Aug 02
Location: York
User status: Offline
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Had two viewings on a 2 bed house which is up on a closed auction for £89,950. Off to the estate agents in a bit as they think they can offer me more than the bank.
They have also called me twice and left 3 answer machine messages since last weekend. 
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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When we purchased 5 year ago, they quoted about 5x online, meaning we could borrow about 100k, When I called, they said 200k wouldn't be an issue :/
Guess its the financial crisis killed it.
As for lcplc james mentioned, I called the 8 weeks ago for a quote, never heard a word from them again. But they do usually get good reports
Adult GiftsClick here to vist us
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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No longer going for this. Found out the sellers have a £6k fee on top of what ever offer you put in to pay for their legal fees.
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John
Member
Registered: 30th Jun 03
User status: Offline
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Are they taking someone to court?
That's a lot more than legal fees for a house move would cost.
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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I'm told the current owner who was the landlord wanted a quick sale so decided t oput in to auction.
The IFA I've been speaking to has said other people have seen him about it and so far no one has offered due to the conditions. He also didn't seem keen, so I'm staying clear.
Seen another which has front and back gardens and a driveway so might look in to that.
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Marc
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Registered: 11th Aug 02
Location: York
User status: Offline
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The auction property -
One I'm viewing Friday -
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Wouldn't be in a hurry to leave my pride and joy under that car port 
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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Yeah, that would be going
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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Much better 
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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Difference being first one was 2 bed, but second one has off street parking and a proper garden at back.
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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And a street sign
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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2nd is much better than 1st imo. Cannot be doing with the hassle of street parking.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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1st one would be a nightmare for me. no driveway, terraced and your front door is on the pavement. looks like a typical house built for miners, the sort you see on homes under the hammer for 20k.
2nd one is much better, just needs a better carport/extension/garage.
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Marc
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Registered: 11th Aug 02
Location: York
User status: Offline
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Got a pond too
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flybikeslee
Member
Registered: 2nd Jan 07
Location: Liverpool
User status: Offline
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2nd looks like brookside
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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Just made an offer on the first one.
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