How Much Can I Borrow?
How much you can borrow depends largely on your personal circumstances. If you are reading this part of our Site, you’ve come to the conclusion that it may be worth checking just how much you are able to borrow and therefore whether, or not you are able to fund your desired property purchase, or extension, or investment, or whatever. There are many “How Much Can I borrow Calculators” floating about in cyber space. The trouble is that a formula off the internet does not approve your loan – a Credit Manager does. Over the years, we have developed financial tests which generally provide us with a clear idea if you will be able to afford the loan you are applying for. These tests are mathematically based and include variable factors such as:
- How much you would like to borrow
- Your income & where it comes from
- How many dependants you have
- What other debts you have e.g. other mortgages, Credit & Store Card limits
- And so on
There really is no simple formula. The way to work out the best strategy for your circumstances is to discuss it in depth with one of our experienced team - we will show you what your borrowing capacity is and match this to what you can afford. The best approach is to give one of our Team a call and frankly discuss your situation with us. If we can help you, we will do our very best to get you the loan you need. Please give us a ring - we are here to help.
Call us on 1300 574 428 and remember to have the actual details of your personal finances available e.g. your gross earnings, bank balances, monthly commitments etc., as this information is an important part of assessing your financial needs and capacity.
