Conversations with a Pug – What’s my borrowing power? |

Conversations with a Pug – What’s my borrowing power?

Whats-my-borrowing-power

 

The first thing you  have to do is work out how much money you can borrow.
Borrowing capacity depends on a lot of things, including your income, savings, expenses and credit rating. It also varies between lenders, because each one will use different criteria to assess your financial circumstance.
As a general rule, a lender will consider the following:
  • Your credit card limits
  • Your income and whether you’re fully or self-employed
  • Your proposed property’s value vs your loan size and kind
  • How many dependents you have
  • Your living expenses
  • Whether you have existing assets and a deposit
For an in-depth assessment of your borrowing capacity, reach out and let’s talk.

My Very Best To You Always,

 

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