Mortgage Calculator - Mortgage Repayments

Mortgage Calculators

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Mortgage Calculators

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Rather than calculating the amount that you can borrow based on your salary it really makes more sense to calculate how much you can borrow based on your available income. If this is more than lenders will traditionally offer based on your salary, then you will have to do a bit of shopping around and convince lenders that you can afford the repayments.

An Independent Financial Adviser can help you do this and will be aware of the lenders that are most likely to be most receptive. On the other hand you may feel that your own situation does not leave you with sufficient spare income to meet the repayments for the maximum amount you are able to borrow. In these circumstances you can work out the amount that you can borrow comfortably without sacrificing too many luxuries.

REMEMBER - If you are going for a heavily discounted rate you will have to pay full rate at some time in the future. It is also possible that rates can increase quite significantly over a short period of time so leave yourself plenty of leeway in your budgeting.

How much can I afford?

Available monthly income after expenses	£
Mortgage interest rate	%
Type of mortgage	Capital and interest Interest only
Repayment period	Years
Maximum amount that you could be borrowed	£