There are two things that determine how much you can borrow.

1. Your income to service the loan.
2. The security available.

If you have high income, you can service a bigger loan without having the necessary equity or cash deposit, but this will also depend on your other commitments and your credit rating. A full financial analysis is essential to determine your borrowing power.

If you have good equity or deposit, this can sometimes overcome problems with low income. Affordability becomes the main factor and it is important to discuss your situation fully to ensure you are not overcommitted.

We can calculate your current situation and work out your borrowing power. Often we can suggest ways to restructure your situation to increase your borrowing power. If this is not enough, we will advise you what you need to do to prepare your situation over a period of time so that you qualify. That way you will be on the right track.

Call now for a free 2 minute appraisal over the phone.