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Jargon Buster

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UK Mortgage

Click Here for and send your details to request free, personal advice on mortgages from an appointed representative of Legal and General, who are authorised and regulated by the Financial Conduct Authority.

You should be contacted within 24 hours - ( provide a daytime contact telephone number for priority )


Extract taken from the Financial Conduct Authority web site:

Mortgages - Borrowing
How much should I borrow?

You can typically borrow up to three and-a-half times the main earnerís income before tax, plus one times any second earnerís income, or alternatively two-and-a-half times their joint incomes (if this is larger).

Your lender may only count half of income such as overtime, commission or bonuses unless this is guaranteed. Lenders will reduce the amount they will lend if you have substantial outgoings such as other loan payments.

If you are getting advice, the adviser has a duty to take reasonable steps to ensure that you can afford a mortgage that he recommends. Whether or not you get advice, lenders are required to lend responsibly. This means that they should, based on things like your income, expenditure and other circumstances, consider whether you can keep up the mortgage repayments now and in the future; for example after an initial discount period comes to an end.
 

Click Here for a quick quote or initial appraisal.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage


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