The amount you are able to borrow is determined by several factors, and includes your gross annual income, which you will need to provide some proof of, usually in the form of paystubs and tax return forms. If you are self-employed and applying for a traditional mortgage, you will usually need a reference from your accountant and three years worth of audited figures.

Lenders use multiples in helping them determine how much you can borrow, although the exact multiples may vary from lender to lender. Standard income multiples will give a potential borrowing amount based on around two to three times your annual household income, depending on your savings and other debts.