How Much Do I Need To Earn To Get A Mortgage of £150,000

In today`s mortgage market your earnings are of less importance than the question of `can you keep up the mortgage repayments of a £150,000 mortgage`. When you are looking to arrange a mortgage we will need your monthly income of anyone who will be put on the mortgage along with the outgoings of the household, this will include travel costs, food costs, number of dependents, utility bills, any other payments you are making for other debts as well as any other outgoings you may have, this is actually a very useful exercise to carry out yourself and see how you yourself can reduce your monthly outgoings, you may be surprised how much money you actually spend on take away`s, smoking, travel and other expenses that you may be able to reduce.

Four and half time salary
Before the changes to the mortgage market many lenders used to work on a salary to borrowing ratio, this means that if you are wanting to borrow £150,000 mortgage then you would need to earn around £33,000 if you a looking for a joint mortgage then this could be spread to include both household incomes.

Mortgage Advice From First Choice Finance
We educate consumers on the importance and role of solid credit scores as it relates to securing competitive mortgage rates, we have mortgage plans available for many credit scores so may even be able to help if you have a less than perfect credit score, having missed payments, CCJ`s or have defaults.

Residential Loans An array of residential loan products that best fit your needs, whether you are looking for a residential mortgage to refinance, purchase that new home, or construct the home of your dreams with some home renovations we have mortgage and loan options that suit most circumstances.

Our market-leading mortgage advice services ensure you enter into the best possible deal for your own personal circumstances from a mortgage plan from our panel of lenders.

We pride ourselves on the expert advice we give to thousands of home-buyers in the UK every year. Our team of experienced mortgage advisers work tirelessly to ensure that our clients get the deal that is best-suited to their specific financial position.

What Does a Mortgage Advisor Do? A mortgage can be a very complicated financial commitment, so we utilise our years of experience to ensure that our clients get the best deal possible. It is a commonly-held belief that the lowest interest rate always points to the best deal on the market, but that is often not the case. Mortgage deals differ greatly, and they involve many different factors other than an eye-catching interest rate. We are completely independent from any financial institution, so the advice we dispense is intended to benefit just one party - our client!

What We Can Do For You
Our team of highly-skilled advisers have been working with the main banks and lending institutions for over 25 years, so we know exactly what kind of deals are out there. We also have access to lenders which aren`t widely known about - perfect for people who are struggling to get a mortgage from mainstream lenders. We will ascertain your current financial position by delving into every aspect of your financial affairs, and that will allow us to find the perfect deal for you.

We work with many different lenders that means there is no benefit to be gained from working with any one lending institution in particular; our only commitment is to you, the customer. Allowing us to find you the best mortgage possible will also give you the peace of mind in knowing that your best interests are being looked after. All of our advisers are registered with the FCA, so all you have to do to find the best mortgage on the market is give us a call!

Mortgages & Remortgages 8.4% APRC. Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)

Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.