Income Multiples
mortgage glossary
Income multiples are a simple calculation that many lenders use to determine the maximum amount of borrowing that they are prepared to allow you. The multiples are literally a multiple of your usual salary.
If you are a single applicant, you will be able to borrow about 3.5 times your annual income.
Joint applicants can borrow either 3.5 times the main annual income in addition to one times the second income OR 2.5 times the joint annual incomes.
Different lenders have different rules so it's always worth asking around.
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