Holmesdale
Building Society Mortgage Providers / Lenders
Holmesdale
Building Society Mortgage Providers / Lenders
Where
do I start?
Whether you are looking to set up home for the first time,
hoping to move to a larger house, looking to improve your
existing house, or even looking for a new lender because you
are unhappy with your existing one, you need to establish
how much you can borrow, and how much it will cost you every
month.
So
how much can I borrow from Holmesdale Building Society?
'The amount Holmesdale Building Society may be able to
lend you will depend on the level of your regular income and,
of course, the value of the property to be mortgaged. However,
to give you an idea, on a loan of up to 75% of the value of
the property, Holmesdale Building Society are able to lend
you up to 3.49 times your basic annual salary if you are buying
on your own. Joint loans would be either 3.49 times the higher
income and 1.0 times the lower, or 2.74 times your combined
incomes if this is higher. For loans in excess of 75% of the
value of the property, the multiples would be 3.0 times your
single income, or either 3.0 times the higher and 1.0 times
the lower income, or 2.5 times the combined incomes if this
is higher. In addition, if either you or your partner receives
overtime, commission or bonuses, Holmesdale Building Society
can take this into account, but only if this other income
can be shown to be either guaranteed or a regular feature
of your monthly pay.
Please
note that the above is only a guideline and the income multiples
are subject to the Society's discretion.
How
much deposit will I need?
Unless
you are purchasing as a sitting tenant and are therefore paying
quite a lot less for your property than its current value,
you will find that the Holmesdale Building Society does not
consider 100% mortgages.
The
most Holmesdale Building Society will lend you - as long as
you can afford it of course - is 90% of the lower of the purchase
price or valuation and therefore you will need a deposit of
at least 10%.
YOUR
HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE
OR OTHER LOAN SECURED ON IT.
For
further information on an Holmesdale Building Society Mortgage
visit the Holmesdale Building Society Website.
|
