Lender - the organisation offering the mortgage loan. Your home may be repossessed if you do not keep up repayments on your mortgage. This could be as a result of reduction in income, demand, seasonal trends etc. May be fixed, variable, capped, discount, tracker, stepped or other type of mortgage. X first income plus 1 times second income, or.

Introducer - a mortgage broker or adviser who introduces a borrower to a potential lender. Call 0800 801079 for advice on how to borrow for mortgage. Mortgage free newsletter scottish widows enhances graduate mortgage offering. The mortgage works mortgages. For more information about mortgages and regulations, visit mortgages laid bare , created by the fsa. Do you want a flexible mortgage?

Alternatively call 0800 801079 to speak to a mortgage advisor. Each lender decides what parts of the borrower's income can be taken into account when considering the income to be used in arriving at the multiplier. The mortgage warehouse gb ltd, quayside road, southampton, hampshire, so18 1bz. Full status - this refers to a mortgage where full credit checks and information has been sourced on the borrower. This will affect the term of the mortgage - i. E. The number of years over which it is to be repaid. Husband's income £18, 000 per year   wife's income £10, 000 per year.

With this type of mortgage the monthly repayment includes an element of the capital sum borrowed in addition to the interest charged. Pru awarded best lifetime mortgage provider. Financial brokers. If you are looking to purchase a joint mortgage with a partner or friend, then the income multiplier may be worked out differently. They need a mortgage of £175, 000, can anyone help?

Conditional insurance - this refers to insurance products which some lenders will impose as a condition of their mortgage offer. The most common multiplier used is 3 times a single income or 2. This means that, at the end of the mortgage term, the capital is still left owing. If you are unsure about which mortgage to go for, then you should seek some financial advice. Times ftbs' annual income, demonstrating the significant impact of rising house prices in relation to average wages. Most mortgage providers will be pleased to discuss the amount of money they are prepared to lend.