Mortgage affordability calculator
Take control of your home buying journey with a quick, accurate spending estimate.
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What affects your mortgage borrowing?
Several factors influence how much you can borrow. Lenders look closely at your financial situation, not just your annual income. Here are the key things that count:
- Your income
The more you earn, the more you can typically borrow. This includes not just your salary, but also bonuses, freelance income, and sometimes benefits. Many lenders may offer up to 4.5x your income - so, if you earn £40,000 a year, that's around £180,000. - Your expenses
Lenders want to know what you're spending. That means things like monthly payments on credit cards, loan repayments, school fees, and even subscriptions. If your fixed outgoings are high, this can reduce the amount you can borrow. - Your commitments
Any outstanding loans or debts are taken into account. A large car loan or several credit cards close to their limits might make you seem like a higher risk. This doesn't mean you'll be refused a mortgage, but it could affect the size of it.
How our calculator works
Our affordability calculator is designed to be as simple as possible while still giving you an accurate estimate. Here's how it helps:
- Quick results
Enter a few details like your income, outgoings, and deposit amount, and the calculator will give you an instant estimate of what you could borrow. It's much faster than waiting for a lender to get back to you. - Tailored to lending rules
Our calculator uses assumptions based on common lender criteria. So, while it's not a formal agreement, it gives you a ballpark figure that reflects what many banks and building societies might offer UK residents. - Helpful for planning
Knowing what you can afford helps you search for properties in the right price range. If the calculator shows you could afford a £250,000 mortgage and you have a £50,000 deposit, you can start looking at homes for around £300,000.
Tips for improving your affordability
Even if the number from the calculator is lower than you hoped, there are ways to improve it. Here are some practical steps:
- Reduce your debts
Try to pay down loans and credit cards where possible. Reducing your monthly outgoings frees up more of your income for mortgage repayments. - Improve your credit score
Check your credit report for errors, make payments on time, and avoid making lots of new credit applications. These actions can make you look more reliable to lenders. - Consider a joint application
Buying with a partner or family member can significantly boost your combined income and the amount you can borrow. Just remember, you'll both be responsible for the mortgage.
Summing up
Using our mortgage affordability calculator is a smart first step in your home buying journey. It gives you a clear, realistic idea of what you might be able to borrow - so you can focus your property search and plan ahead with confidence.
Frequently Asked Questions
Will using the calculator affect my credit score?
No, our mortgage affordability calculator has no impact on your credit score. It doesn't perform a credit check or ask for any sensitive personal information. It simply gives you a general idea of what you might be able to borrow, based on the numbers you enter - completely risk-free and confidential.
Will using the calculator affect my credit score?
No, our mortgage affordability calculator has no impact on your credit score. It doesn't perform a credit check or ask for any sensitive personal information. It simply gives you a general idea of what you might be able to borrow, based on the numbers you enter - completely risk-free and confidential.
Will using the calculator affect my credit score?
No, our mortgage affordability calculator has no impact on your credit score. It doesn't perform a credit check or ask for any sensitive personal information. It simply gives you a general idea of what you might be able to borrow, based on the numbers you enter - completely risk-free and confidential.
How accurate is the calculator?
The calculator gives you a solid estimate based on general lending criteria used by UK mortgage providers. But it's not a guarantee. Each lender assesses applications differently, considering things like credit history, employment type, other annual income, investments, and savings. For the most accurate figure, speak with a mortgage advisor or lender once you've used the calculator as a guide.
How accurate is the calculator?
The calculator gives you a solid estimate based on general lending criteria used by UK mortgage providers. But it's not a guarantee. Each lender assesses applications differently, considering things like credit history, employment type, other annual income, investments, and savings. For the most accurate figure, speak with a mortgage advisor or lender once you've used the calculator as a guide.
How accurate is the calculator?
The calculator gives you a solid estimate based on general lending criteria used by UK mortgage providers. But it's not a guarantee. Each lender assesses applications differently, considering things like credit history, employment type, other annual income, investments, and savings. For the most accurate figure, speak with a mortgage advisor or lender once you've used the calculator as a guide.
How accurate is the calculator?
The calculator gives you a solid estimate based on general lending criteria used by UK mortgage providers. But it's not a guarantee. Each lender assesses applications differently, considering things like credit history, employment type, other annual income, investments, and savings. For the most accurate figure, speak with a mortgage advisor or lender once you've used the calculator as a guide.
Can I use the calculator if I'm self-employed?
Yes, the calculator works for self-employed users too. Simply enter your average net profit from the past two or three tax years. While some lenders may require extra documentation - like SA302s or full accounts - the calculator will still give you an idea of what you could borrow based on the income you've entered.
Can I use the calculator if I'm self-employed?
Yes, the calculator works for self-employed users too. Simply enter your average net profit from the past two or three tax years. While some lenders may require extra documentation - like SA302s or full accounts - the calculator will still give you an idea of what you could borrow based on the income you've entered.
Can I use the calculator if I'm self-employed?
Yes, the calculator works for self-employed users too. Simply enter your average net profit from the past two or three tax years. While some lenders may require extra documentation - like SA302s or full accounts - the calculator will still give you an idea of what you could borrow based on the income you've entered.
Can I use the calculator if I'm self-employed?
Yes, the calculator works for self-employed users too. Simply enter your average net profit from the past two or three tax years. While some lenders may require extra documentation - like SA302s or full accounts - the calculator will still give you an idea of what you could borrow based on the income you've entered.
What if I've got a poor credit history?
Even with a poor credit score, you might still be eligible for a mortgage. But the amount you can borrow could be lower, and the interest rate may be higher. Our mortgage calculator provides an estimate based on typical lending rules, but a broker can help you explore specialist lenders who consider applicants with credit issues.
What if I've got a poor credit history?
Even with a poor credit score, you might still be eligible for a mortgage. But the amount you can borrow could be lower, and the interest rate may be higher. Our mortgage calculator provides an estimate based on typical lending rules, but a broker can help you explore specialist lenders who consider applicants with credit issues.
What if I've got a poor credit history?
Even with a poor credit score, you might still be eligible for a mortgage. But the amount you can borrow could be lower, and the interest rate may be higher. Our mortgage calculator provides an estimate based on typical lending rules, but a broker can help you explore specialist lenders who consider applicants with credit issues.
Can I use the calculator when remortgaging?
Yes, you can use our calculator to work out your remortgage affordability. If you count your mortgage balance outstanding as one of your debts or expenses, the calculator can help assess whether a new mortgage fits your budget and if lenders are likely to approve based on your financial situation.
Can I use the calculator when remortgaging?
Yes, you can use our calculator to work out your remortgage affordability. If you count your mortgage balance outstanding as one of your debts or expenses, the calculator can help assess whether a new mortgage fits your budget and if lenders are likely to approve based on your financial situation.
Can I use the calculator when remortgaging?
Yes, you can use our calculator to work out your remortgage affordability. If you count your mortgage balance outstanding as one of your debts or expenses, the calculator can help assess whether a new mortgage fits your budget and if lenders are likely to approve based on your financial situation.
About the author
Lawrence Howlett
Lawrence Howlett brings a results-driven mindset to his writing, shaped by over a decade of experience across finance, legal, and energy sectors. As the founder of Moneysavingadvisors, he’s built a reputation for turning complex financial concepts into clear, actionable insights for consumers. His writing stands out for its clarity, structure, and focus on delivering value.
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