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Tenderloin-
@Tenderloin yeah because they're using a multiple of my temporarily 10% deferred salary (which I can prove is temporary), depsite the fact I'm spending £0 on living other than supermarket. Also just stupid putting down 25% when the interest rate quoted was 1.8% (which is pretty much inflation) in terms of the opportunity cost of not investing that money.
It's a nice house but it's a 3-5 year house, not a forever home and there are lots of them in the area. I can wait for a few more monthsNo on the low offer - it's had a sensible offer on it from a cash buyer who is just liquifying some other investments I think.
bobble
@Tenderloin I've looked with 3x brokers and a 2 big banks directly (who I have my debit and credit card with) and max I can borrow is 4.5x, even if putting down 25% deposit. Surely this must mean house prices will fall.
I need to wait for the adjustment to happen really but I am a FTB, saved hard for my deposit and I've found an ideal house.
Edit - on your friend - HSBC offered me 4.5x with 90% LTV about 2 weeks ago so I'm sure they will be fine.