Joint mortgage options

[VenalWinfrey]

I would like to get a mortgage with my partner, yet know nothing about it.  He earns 42k, me half of this.  Can anyone tell me how much, in general, we'd be able to borrow from a lender?  Alternatively, does anyone know any good websites where we could check out our options?  We'd want to put down between 5-10% but basically I was assuming that, combined, we'd be more likely to be able to borrow a larger sum.  He doesn't seem to be so convinced!  Any help on this would be much appreciated! 

 

Thanks

[Hgrove]

As far as I know you should be able to borrow 2.5 times your joint income so if your total income is �63k, you should be able to borrow �157.5k.   If you have other outstanding loans they will lend you less.  When checking your borrowing potential and repayments on websites, it is a good idea to ensure they don't run a credit check on you (don't fill in your details) as if you visit just 5 or 6 websites and they all credit check you, that could be enough by itself to affect your credit status adversely. 

[hectic]

It is usually 4 times the main earner or 3 times joint earnings, this website has a calculator on it to calculate repayments and what you can borrow: -

http://www.cg-financial.com

[hectic]

sorry that previous link didn't work here it is: -

http://www.cg-financial.com/cgfindex.asp

[Sludge]

I have heard people speak well of the advise that can be obtained through John Charcol (recently taken over by Bradford & Bingley) and as an informal chat with one of their advisors may get your thoughts on the right rails you might like to try this link

http://www.johncharcol.com/default.asp?page=branchfinder