Your "income multiple" is used as a guide on how much a lender will be prepared to advance you on a mortgage. As a very rough rule of thumb, the maximum amount you are normally able to borrow to purchase a property will be three times your annual salary. Alternatively, it tends to also be 2.5 times your "joint income" if you are buying with a another.

ISA What is an Individual Savings Account?

An Individual Savings Account, allows investors to make a tax-free investment limit of up to £20,000.00 for 2017/18.

Interest Only Mortgage Endowment Mortgage

Commonly known as an Interest Only Mortgage, a mortgage (loan) is made of two parts, the capital

The Amount You Borrow
The interest that is charged by the lender

This type of mortgage, your monthly payment will only cover the interest part of the loan for the term of the mortgage. the capital remains unpaid.

How is the Capital repaid?

You will setup a savings repayment plan in-order to repay the capital in full at the end of the loan. Examples of savings plans.

ISA (Induvial Savings Accounts) or an Endowment Savings Plan.
Plan to sell the property to the loan

Leasehold

Leasehold is ownership of property for an agreed number of years. When the lease expires ownership reverts back to the freeholder.

Loan to Value (LTV)

This is a ratio of the value of the property and, expressed as a percentage. For example, the purchase price of a house is £150,000.00, a lender would offer 95.0% of the £150,000.00 the loan is £142,500.00, therefore the required deposit of £150,000.00 minus £142,000.00 equals £7500.00 is the required deposit. This represents an LTV of 95%, so what does this mean? It means you now own 5.0% of the property and the Lender owns 95.0%.