Lenders lend money, based on your income this is a rate generally 3
times your annual salary in the case of a single application, 3 times first
applicant plus 1 times second in joint applications. You will also find the
multiple of 2.5 times joint income use for joint applications.
Lenders will allow you to use the multiple that gets you the highest loan but
reserve the right to check affordability.
Some lenders, due to the fact that rates are currently their lowest for 20
years, will allow income multiples in excess of the ones stated above. Above all
you should remember that income multiple not only protect the lender against bad
lending they also protect you the borrower against being repossessed because you
cant afford the mortgage.