Mortgage Affordability Calculator
Find out how much you could borrow for your next home. Enter your income, expenses, and deposit to see your estimated borrowing power.
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*Usually, lenders will offer up to 4x the total amount for a mortgage
How much can you afford to borrow for a mortgage?
Just tell us how much you earn and what your monthly outgoings are, and we’ll help you estimate how much you can afford to borrow for a mortgage.
When you get your results you can change the repayment period or interest rate to make it more closely match any mortgages you’re thinking of applying for.
And we’ll tell you how much money you’ll have left over each month. Start mortgage affordability calculator
How does a mortgage work?
If you want to buy a property, but don’t have enough money to pay for it upfront, you can apply to get a mortgage.
A mortgage is a loan taken out to buy property or land. It can last between 2-40 years, depending on your lender and circumstances.
You’ll need at least 5% of the property purchase price as a deposit. You then borrow the rest of the money (the mortgage) from a lender, such as a bank or building society.
The lender charges interest on the money you borrow. You then make monthly payments to clear the total. The loan is ‘secured’ against the value of your home until it’s paid off.
If you can’t keep up your repayments, the lender can repossess (take back) your home and sell it so they get their money back.
What mortgage can I afford?
The most you can borrow is usually capped at four-and-a-half times your annual income.
