How much Can We borrow?

Posted on 21 March 2011 by Jason

We are looking to buy a flat/house and would like to know how much we can borrow?

My partner is earning £34,000 p.a & myself for tax purpose £12,000 p.a but I have other income constantly coming from offshore company (without having to be paying tax) £16,000 p.a.


Please refer to my answer to a similar question below. All the high street lenders have affordability calculators and we have a simple calculator on this website which will allow you to work out roughly what you can borrow.

I recommend that you perform two calculations, one with your offshore income and one without. The reason I say this is that most Lenders will only take into account your earned taxable income. There are a few Lenders who might include the offshore income, but they will want to know it's source and how long you can continue to expect to receive it.

I believe you would benefit from speaking to one of our independent mortgage advisers. Please call on 0344 346 3672 and tell the consultant the date and title of your question. They will be able to look at your situation and advise you accordingly.


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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