Working Hours: Mon - Fri: 9:00AM - 6:00PM
Call Us: 0330 304 3040
Mortgage Insurance Calculators About How it Works
   Back | How it Works
How it Works
Securing an excellent mortgage offer with Revolution Finance Brokers couldn't be easier
1Get in Touch
Complete a quick form to give us an overview of your mortgage or financing requirements, and we'll provide recommendations about the best opportunities for you.
2Submit Your Application
Once you've chosen your preferred mortgage deal, we'll steer you through the paperwork with comprehensive application management from start to finish.
3Mortgage Completion
Revolution Finance Brokers will finalise the details and enable you to move forward without delay!
   Back | About
About
Blog
Contact Us
FAQs
Documents
Areas
Credit Report
   Back | Insurance
Insurance
Business Protection Insurance
Life Insurance
Building Insurance
Home Insurance
Mortgage Repayment Protection
Family Income Benefit
Critical Illness Cover
Income Protection
Life Assurance
   Back | Calculators
Calculators
Stamp Duty
Commercial Stamp Duty
How Much Can I Borrow?
Buy To Let
Bridging Loan
Residential & Commercial Bridging
Mortgage Repayment
Development Finance
Commercial Mortgage
   Back | Choose your mortgage type
Choose your mortgage type
Bad Credit Mortgages
Bridging Finance
Commercial Mortgages
Buy to let
Self Employed Mortgages
Mortgages for Professionals
Lifetime Mortgages
Expat Mortgages
Interest Only Mortgages
Mortgage Affordability
Mortgage Application
Income Types
Residential Mortgages
Development Finance
Property Types
Remortgages
First Time Buyers
Mortgage Rejection
Offset Mortgages
Second Charge Mortgages

UK Mortgages at £900 Per Month

Can you take out a UK mortgage with a repayment value of £900 per month? This independent Revolution guide steers you through various mortgage rates and the most you can borrow at this repayment value.

UK Mortgages at £900 Per Month

In this guide, we'll consider what sort of mortgage you can get for a £900 per month budget - and help you understand the critical criteria that influence the best lenders to apply to.

If you need more information, or help to negotiate the most competitive terms on your mortgage, give us a call on 0330 304 3040, or email the Revolution Brokers team at [email protected].

What Size of Mortgage Can I Apply for at £900 Per Month?

The size of mortgage you qualify for depends on many factors, including the lender's policies and the circumstances.

It also depends on whether you're looking for a repayment mortgage or an interest-only loan - and whether that application is on a tracker rate or fixed-rate term.

The only way to ensure that you apply for the most competitive mortgage products, and select a lender that will be happy to approve your application, is to use a professional broker who can recommend the best options for your £900 a month budget.

What is the Maximum Mortgage I Can Borrow for £900 a Month?

Lenders all use an income multiplication calculation to arrive at a basic maximum mortgage. However, that multiplier depends on the lender.

A lot also depends on what sort of mortgage is on offer, and how long an initial fixed-interest period lasts.

Many lenders offer up to four or 4.5 times your annual income, whereas others can offer as high as six times in specific circumstances. Hence, your monthly budget isn't the only determinant that will influence the maximum you can borrow.

Can I Borrow More on a Longer Mortgage Term for £900 Per Month?

The typical residential mortgage term runs for 25 years, although you can apply for a longer-term to reduce your monthly repayment cost.

However, you must be aware that this does mean paying more interest overall.

For example, extending a mortgage term from 25 to 30 years can mean you qualify for a higher mortgage amount, and pay less per month, but that over the mortgage term you will pay more interest overall.

What Factors Will a Lender Consider Before Approving a £900 a Month Mortgage?

Lenders will look at lots of factors before approving a mortgage, such as:

  • Your income and outgoings.
  • Age and number of dependents.
  • The type of property.
  • Your income or employment type.
  • Credit history.

Each lender has different policies, and so if you're concerned about any of these eligibility criteria, get in touch, as there are lots of niche lenders offering flexible terms on non-standard lending.

Which are the Best UK Lenders for a £900 a Month Mortgage Product?

It can be impossible to know which lender to apply to, or whose criteria you meet - and many mortgage products are not available on the open market and rely on professional brokers to negotiate the terms.

As an independent, whole-of-market broker, our role is to identify what sort of loan you need and assess your circumstances to work out which lenders match with your requirements and will be happy to lend to you.

For example, one applicant might be self-employed and need a lender who offers flexible calculations when it comes to average annual income figures. Another might have a low income and need a lender who specialises in helping first-time buyers get onto the property market.

What Mortgage Can I Get for a Salary of £900 per Month?

Typically, a lender will offer somewhere around 4.5 times your annual salary as a maximum mortgage value.

For example, if you earn £45,000 per annum, most lenders will offer around £202,500 as a maximum mortgage. On an approximate 2.43% interest rate over 25 years, that sort of loan would cost you around £900 per month in repayments.

In some cases, you can borrow five times your income, or even higher - but this depends on meeting every other criterion perfectly, and having a clean credit record.

How Do I Check That I Can Afford a £900 Per Month Mortgage?

Affordability is vital to any mortgage application, and a lender needs to see that you can comfortably keep up with the repayments. That means assessing outgoings as well as your income - taking into account things such as:

  • Utilities and council tax.
  • Groceries and living costs.
  • Insurance payments.
  • Other debts or credit cards.

Expert Support With Finding Affordable Mortgages at £900 Per Month

If you have a fixed budget, you need to ensure that the terms ad rates on your mortgage are affordable and align with your required amount of borrowing.

Give the business loan broker team a call on 0330 304 3040, or email us at [email protected], and we'll recommend the best mortgage deals on the market, and the lenders we know will be able to approve your application.

Further Reading

PROCESS

Explore Our Presence

Securing an excellent mortgage offer with Revolution Finance
Brokers couldn't be easier:

cityam
dailyexpress
dailymail
standard
FT Advisor
LBC
The Guardian
Independent
Metro
Mortgage Introducer
Sky News
The Sunday Times
Yahoo
This is Money
Mirror
LBC
The Sunday Times
PROCESS

Revolution Mortgage Brokers:
100% Independent & Whole-of-Market

As specialist mortgage brokers for a huge variety of applicants, the whole-of-market consultants at Revolution provide access to an exceptional range of lenders, products and mortgage deals. That means you get the advantage of professional negotiation and broker-exclusives through an established lending network to ensure we always find you the most competitive mortgage available.

REFERRALS

Refer, Relax, and get £50

Ask the Expert
Mortgage Brokers

Revolution Brokers
What can we help you with today?
Do you have a particular timescale in mind?
Next
Which situation from the below list best matches your requirements? *
Could you tell us the market value of the property?*
Please let us know a rough idea of your yearly income (before tax) for all applicants? *
Back
Next
Primary applicant name *
Contact email address *
Best contact number *
Back
Next