This means it will become increasingly beneficial for first- time buyers to clear debts before applying for a mortgage. Hsbcs homestart mortgage is designed around this concept. Compare the latest mortgage rates tools. Lenders that will offer mortgages on these schemes are listed in the box. How are mortgages calculated. Most lenders will now allow at least three, if not more, names on one mortgage agreement. First- time loans up to five times your salary. See contents of full mortgages guide.

Get free easy info & tips in uk mortgages guide. Times first income, and brokers can achieve more than that. Marble credit card. Today, four times single and three times joint would be closer to typical, says boulger. Northern rock flexible together mortgage with long- term fixed rate £164, 30. Credit card printing.

Fill out the application forms and within 14 days you should have something in writing from your lender. They usually have long standing relationships with the mortgage lenders and know exactly what you can stretch to. I've read enough for now and want to get a free quick mortgage quote. If you keep quiet, you may find yourself overstretched when a large monthly mortgage payment is added to your outgoings. I've read enough for now and want to get a free quick mortgage quote.

Five to 10 years ago, most lenders gave maximum loans of three times first salary, or two and a half times joint, but the norm is now much higher. Scottish widows bank has a graduate mortgage which allows people to borrow 102% of the purchase price, and a professional mortgage where you can borrow 110%. Mortgage lenders often don't want to lend the entire cost of the property.