How much can I borrow?

How much you can borrow depends mainly on the amount of your deposit and your income.

Typically,if you are buying on your own, you can borrow up to four times your income. If you are buying with another person you can borrow up to 2.75 times your joint income. This is regardless of whether you are employed or self-employed.

Although there are loans available for 100 per cent or more of the property value, we recommend that you have at least a 10 per cent deposit, in order to attract more favourable mortgage terms.

If you think your circumstances might affect the chances of getting a mortgage, using a broker can be an advantage. It is a good idea to speak to an adviser first and in most cases we can source a lender who will be willing to take your employment and financial situation into consideration.