This is a pre application agreement from a lender that they would be prepared to lend to you and how much. Having assessed and credit checked your details, we can provide a lender certificate for you so that you can prove to estate agents that you have finances in place for your purchase.
There is no formula but this will depend on your overall situation taking account of income expenditure and liabilities and we would assess individually every case.
Comparison sites make assumptions on your behalf in order provide a low premium often resulting in you not ending up with the policy you actually want. Also people don’t appreciate that those sites continue to credit check you each year whether you request it or not. We can compare most of the providers and their products to tailor a policy to suit you.