Mortgage affordability calculator how much could you borrow?

A mortgage affordability calculator gives you an estimate of what you could borrow, but lenders look at several factors before agreeing a mortgage. Here's what counts most.

• Your income: the more you earn, the more you can typically borrow. This includes your salary as well as bonuses, freelance income, and, in some cases, benefits. Many lenders will consider lending up to around 4 to 4.5 times your annual income, though this varies by lender.
• Your expenses: lenders want to know what you're spending each month, including credit card payments, loan repayments, school fees, and subscriptions. Higher fixed outgoings can reduce the amount you're able to borrow.
• Your commitments: outstanding loans or debts are taken into account too. A large car loan or credit cards close to their limit can make you look like a higher risk to a lender, though it won't necessarily rule you out.

Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

Our affordability calculator is designed to be simple to use while still giving you a realistic estimate. Here's what it does.

• Quick results: enter a few details, such as your income, outgoings, and deposit amount, and the calculator gives you an instant estimate of what you could borrow. It's much faster than waiting to hear back from a lender.
• Based on common lending criteria: the calculator uses assumptions based on typical lender requirements. It isn't a formal mortgage offer, but it gives you a realistic figure that reflects what many banks and building societies might lend.
• Useful for planning: knowing what you could afford helps you search for properties in the right price range. For example, if the calculator shows you could borrow £250,000 and you have a £50,000 deposit, you could start looking at homes priced around £300,000.

Using the calculator has no impact on your credit score, as it doesn't run a credit check or require sensitive personal details.

If the number from the calculator is lower than you'd hoped, there are practical steps that can improve it.

• Reduce your debts: pay down loans and credit cards where you can. Lowering 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 several new credit applications in a short space of time. These steps can make you look more reliable to lenders.
• Consider a joint application: buying with a partner or family member can significantly increase your combined income and the amount you can borrow. Bear in mind you'll both be responsible for the mortgage.

Using a mortgage affordability calculator is a useful first step when you're planning to buy. It gives you a realistic idea of what you might be able to borrow, so you can focus your search and plan ahead.

If you're feeling unsure about affordability or already juggling other debts, MoneyHelper offers independent, government-backed guidance on 0800 138 7777 or at moneyhelper.org.uk.