Cashback Remortgages · Eligibility
How Mortgage Affordability Is Assessed
Affordability is a lender's judgement of whether you can sustainably afford the payments now and if rates rise. It is not a single income multiple.
What goes into the test
Lenders weigh income and its stability, regular commitments, dependants and essential costs, then stress-test the payment against a higher rate. Income multiples are a guide, not the whole calculation, which is why lenders differ.
The property and loan-to-value also feed the decision.
Widening the outcome
Reducing monthly commitments before applying can help, and a longer term lowers the payment but raises total interest. Advice matches your figures to a suitable lender.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.