Affordability calculator
A rough idea of how much you might be able to borrow, and the price range that puts you in. Lenders make the real decision after looking at your income, outgoings and credit history.
You might borrow up to
£180,000
| Combined income | £40,000 |
|---|---|
| Plus your deposit | £25,000 |
| Price range up to | £205,000 |
| Monthly repayment on that loan | £1,000.50 |
| Deposit as % of price | 12.2% |
An upper estimate only. See homes up to £205,000
How lenders decide
According to MoneyHelper, lenders typically cap the maximum you can borrow at four and a half times your annual income — and most people are offered less. They also look at your regular outgoings (credit cards, loans, childcare, bills) and your credit report, and most mortgages ask for a deposit of at least 5% to 10% of the price (MoneyHelper: what mortgage can I afford?).
Before you start viewing, it's worth getting a mortgage in principle from a lender or broker. For a fuller picture that includes your spending, try the MoneyHelper affordability calculator.
This calculator is for illustration only and is not financial advice.