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Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.
Your Results:
You could borrow up to
Most lenders would consider letting you borrow
This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.
Some lenders would consider letting you borrow
This is based on 4.75 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.
A minority of lenders would consider letting you borrow
This is based on 5.5 times your household income, a salary multiple you will struggle to get without a broker. 5.5 times salary mortgages are usually only available under very specific circumstances.
Get Started with an expert broker to find out exactly how much you could borrow.
Get StartedGet expert advice immediately if…
If one or more of the above apply to you, it’s important to get expert advice before making an application. The right broker can help maximise your chances of approval based on your circumstance.
Selecting the right lender is the cornerstone of securing a mortgage tailored to your unique situation. Here are some key considerations to keep in mind when searching for the perfect lender.
Not all lenders are well-versed in the intricacies of cabin crew income. Look for lenders who specialise in mortgages for airline staff and cabin crew, as they are more likely to understand your financial situation and offer favorable terms.
Pilots, with their distinct financial profiles, should seek out lenders experienced in working with aviation professionals. These lenders can appreciate your earning potential and create mortgage packages that suit your needs.
Engaging a mortgage broker can be a smart move. These professionals have extensive networks and can connect you with lenders who are most likely to approve your mortgage application. They can also negotiate on your behalf to secure the best terms.
Based on a mortgage of £300,000 at 75% LTV and 25 years
Speak with Us | Interest Rate | Mortgage Type | Monthly Repayment Amount | Total Fees | Max LTV |
---|---|---|---|---|---|
3.92% | Fixed | £1,182 | £1,099 | 75% | |
3.92% | Fixed | £1,185 | £1,516 | 75% | |
3.93% | Fixed | £1,185 | £1,025 | 75% | |
3.94% | Fixed | £1,186 | £1,295 | 75% |
Now that you’ve identified the right lender or mortgage broker, it’s time to work towards securing your mortgage. Here are some actionable tips to increase your chances of approval.
Gather and present documentation that showcases your consistent earning potential. For pilots, this may include tax returns, pay stubs, and letters from your airline. Cabin crew members should provide income records that demonstrate stability.
Address any credit issues proactively. Pay off outstanding debts, maintain a low credit utilisation ratio, and ensure your credit report is error-free. A good credit score will boost your mortgage application.
A substantial down payment can work wonders in securing a mortgage. It reduces the lender’s risk and may lead to lower interest rates. Consider setting aside a portion of your earnings specifically for this purpose.
Some lenders offer specialised mortgage programs for aviation professionals. These programs may consider your future earning potential, making it easier to qualify.
Don’t hesitate to consult with mortgage brokers experts. Their insights can be invaluable in navigating the mortgage application process successfully.
Alison Gibson is a seasoned mortgage expert at Ascot Mortgages, specialising in providing bespoke mortgage advice to professionals across the UK. To find your match and start your journey towards your ideal mortgage, you can reach out to us directly at 01925 711558 or send an enquiry through our website.
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Ascot Mortgages authorised and regulated by the Financial Conduct Authority and can be found on the FCA register (www.fca.org.uk) under reference 776062. The FCA do not regulate some forms of mortgages. The guidance and advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £599 per mortgage account. Ascot Mortgages Ltd give you the option to pay a non-refundable fee of £1299 payable with the application. If this option is taken, Ascot Mortgages Ltd will refund any procuration fee received by the lender.
Ascot Mortgages Limited is registered in England and Wales and have their registered office at 8 Webster Court, Westbrook, Warrington, WA5 8WD. The company’s registration number is 06764971.
We are a credit broker, not a lender. We work with the whole of the lending market. We may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature any commissions model will be confirmed to you before you proceed.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT
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