How much could your client borrow?
Here is a simple chart to indicate the maximum potential borrowing amount based on gross income, assuming no credit commitments and average household expenditure.
Please take the lower of either pre-retirement or post-retirement income *
We look at more relevant financial issues than just age
No cap on employment or self employed income
We accept plausible income into retirement
Affordability case study
Mr & Mrs Jones would like to borrow £150,000 to pay off their existing interest only loan
Mr Jones currently earns £32,000 per annum but plans to retire in three years’ time when his income will reduce to £27,500. Mrs Jones is currently retired and has a retirement of income of £22,500. Using the calculator, we can see that LiveMore would be able to offer them a loan of £173,000 (subject to full underwriting).
The above is just an indication. To get a more accurate borrowing amount for your clients, please use the calculator on our broker portal