Give our mortgage calculator a go and discover how much you could borrow without impacting your credit score. Just enter a few details like your income, outgoings, mortgage term and deposit to get a rough idea of the amount we could lend you. We can often lend 4.5 to 5.5 times your income if our checks show you can afford the mortgage.
Important information
This calculator is for illustrative purposes only.
About this mortgage calculator and borrowing with us
It’s simple. Just enter your income, outgoings, deposit and your preferred mortgage term. Then the mortgage calculator will tell you how much we could lend.
Experiment by tweaking the loan amount and the time you want to pay the mortgage back. Then look at our rates comparison tool to see the available deals with monthly payments.
It’s mostly things like your income and outgoings. So get ready to enter your:
- annual income before tax
- number of dependants
- credit card balance
- monthly loan payments
- the deposit you’re putting down
- preferred mortgage term.
It depends. Everyone’s different. But as a guide, you can usually borrow 4.5 to 5.5 times your annual income with us if our checks show you can afford the mortgage. Try using our mortgage calculator to get a better idea of the numbers.
Lenders look at a lot of different things including the amount you earn and how much you spend. This includes credit card payments, other loans, and commitments like childcare. Just enter this info into our mortgage affordability calculator to get a rough idea of how much you could borrow.
Lenders will also put your credit score and history under the microscope. This tells them what you’re like with money and how good you are at paying bills. Don’t worry though, we won’t do a credit check when you use our ‘How much could I borrow’ calculator. So your credit score won’t change.
It depends on your lender, the home you’re buying, your outgoings and credit score. But as a rough guide, lenders usually offer around 4.5 times your salary. Buying with someone else? Then they usually combine your salaries. So, you should be able to borrow more.
For example, if you’re buying alone and earn £50,000, lenders could let you borrow around £225,000 (4.5 x your £50,000 salary) for a repayment mortgage. But if you’re buying with someone else, who also earns £50,000, then you might be able to borrow up to twice as much.
As for your deposit, it depends how much you can put down. But if you choose a 90% loan to value mortgage with a 10% deposit, you’d pay £25,000 up front if you’re borrowing £225,000.
Bear in mind that house prices vary in different parts of the country. So working out how much money you’ll need to buy a home is the obvious place to start.
Are you a first time buyer struggling to put a deposit together? If so, it’s worth checking out My First Mortgage. You might be able to get a low deposit mortgage where you can put down just £10,000 if you tick the right boxes. If this isn’t right for you, take a good look at our other first time buyer mortgages instead.
Our mortgage calculator will give you a good estimate of what you could borrow. It’s not a mortgage offer, and the results depend on the info you put in, but you’ll get a good ballpark figure.
If you can’t increase your income, think about borrowing over a longer period although this means you’d end up paying more interest over the mortgage term.
There are a few other things you could look at too.
A guarantor mortgage is one option. This is where friends or family agree to cover your monthly payments if you can’t. It could be worth speaking to a mortgage broker as well. They might be able to find you a lender that’s happy to let you borrow more.
Another idea could be to apply with friends or family. Pooling your income is another way you could borrow more and increase your chances of getting accepted. We let up to 4 people apply for a mortgage together over the phone.
Finally, don’t forget that our mortgage calculator only gives you a rough idea of how much you could borrow. It’s a useful tool but there’s only one way to know for sure – getting a decision in principle and making a full mortgage application.
It’s not all about your salary, expenses and credit history. They’ll also look at your deposit, other income, any debts, and whether you’re employed or self-employed. You’ll normally need a deposit of at least 5% of the property’s value – the bigger the better.
It can also help if you’ve got extra income on top of your main salary. For example, bonuses, commission, investment income or benefits. You could even apply for a mortgage with a partner or friend. Combining your incomes could help you borrow more.
How much mortgage you can get also depends on whether you’ve got debts like credit cards or other loans. Lenders want to be sure that you can cover both these payments and your mortgage.
Finally, your employment status can sometimes impact how much you can borrow. If you’re self-employed, for example, you’ll need to show your income for the last 2 or 3 years. And if you’re unemployed or relying on benefits, it could be easier to get a mortgage if you apply with a friend or partner.
Use our mortgage affordability calculator to get a rough idea of what we could lend you. We’ll look at your income, outgoings and the time you need to pay back the mortgage before giving you an estimate.
But it’s also important to do your own sums. Only borrow what you can comfortably afford to pay back. And don’t forget other costs like legal fees, removals, storage, mortgage fees and stamp duty (if you need to pay it).
Also think about what you’d do if your circumstances change – like if you get sick or lose your job. You never know what’s round the corner.
Finally, it’s worth looking at our mortgage rates comparison tool. You'll see what your monthly payments could be and whether you could comfortably afford what you want to borrow, month in, month out.
No. It doesn’t involve a credit search and won’t impact your credit rating. It’s just a helpful tool to give you an idea of what you could borrow. So take it for a spin.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Applications are subject to status and lending criteria. Applicants must be UK residents aged 18 or over. The amount we will lend depends on your circumstances, the amount borrowed and the property. A higher deposit may be required for a flat or new build.