Many mortgage lenders have their own online calculators that indicate the amount you can borrow depending on your income.
When it comes to rejecting or approving mortgage applications, lenders adhere to guidelines in handbooks hundreds of pages long.
They will analyse your outgoings, reviewing your outstanding debts to evaluate if they believe you’ll be in a position to afford the loan you’re applying for in addition to the current payments you are making.
Errors. This is one of the most frequent and preventable reasons to get your mortgage application declined.
Every lender has their own procedures depending on the kind of loan you’re seeking, so there are factors that would make your application get rejected by one lender, but not another.
I believe the aforementioned guide has provided you with enough clarity about your situation compared to your loan rejection letter.