Our mortgage calculator is computer generated and relies on certain assumptions. It is designed to give you a general idea of the repayments you can expect to pay for a specified mortgage term and interest rate. For a more exact figure and to find out how much you can borrow, please contact our expert team of mortgage advisers.
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Calculate Your Monthly Repayments
This calculator is for illustrative purposes only and may not reflect the true cost of repaying a mortgage before you enter into any new mortgage commitment, you need to be sure that it is affordable on your own personal budget. Use this budget planner to work out what you can afford to pay each month.
Since April 2014 and the introduction of the Mortgage Market Review (MMR) the mortgage amount that a lender with allow is no longer governed by just your income.
Instead, lenders now work out the maximum they can lend to you based on Affordability. On the most basic level, this involves looking at what income is coming into the household, looking at what committed expenditure is going out of the household i.e. loans, credit cards, living expenses and seeing what is left to service any mortgage.
The amounts that lenders will lend can vary massively depending on your circumstances. The best way to find out how much you can borrow is to undergo a full Financial Analysis with your broker or bank.