Mortgages in Bristol

How much deposit do I need to buy a house in Bristol?

Currently, a 5% deposit would be the starting point when looking for a house, but a larger deposit would open up the number of lenders able and willing to lend money through a mortgage. 

What is the maximum buy-to-let mortgage I can get?

What qualifies you as a first-time buyer?

You qualify as a first-time buyer if you have never owned residential property before. If that is you, then you will be eligible to apply for a first-time buyer mortgage. 

The maximum that you can borrow will be linked to the rental income you will receive on the rental property. You will likely need at least a 20% deposit and have a minimum income of £25,000 per year.

Is remortgaging a good idea?

If you get a better interest rate, you can reduce your mortgage payments or shorten the mortgage term to pay off your mortgage debt earlier than planned. 

How much do I need to earn to get a mortgage of £200,000?

The majority of mortgage lenders would consider lending up to 4.5 times your annual salary. Based on this, you would need to earn at least £44,445 per year. Mortgage lenders will also check your affordability, considering any loans and credit cards that you hold. 

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