Mortgage Affordability Calculator
Calculate how much you can borrow for a mortgage
1
Your gross salary before tax and deductions
Enter your total annual income before tax. Include your salary, regular bonuses, and commission. If you're self-employed, use your average net profit over the last 2-3 years. Don't include irregular income unless you can prove it's consistent.
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2
For joint mortgage applications
If you're buying with a partner, spouse, or friend, enter their annual income here. Lenders will combine both incomes to calculate your maximum borrowing. Both applicants' credit histories will be checked, and all debts will be considered.
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3
Your savings available for the property purchase
Your deposit is the upfront payment you make. A larger deposit (15-20%+) gets you better interest rates. First-time buyers can use Lifetime ISA (£1,000 government bonus), Help to Buy ISA, or gifted deposits from family. Remember to keep some savings for surveys, solicitors, and moving costs.
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4
Total monthly payments for loans, credit cards, car finance
Add up all your monthly debt repayments: credit cards (minimum payment), personal loans, car finance, student loans (if over threshold), child maintenance, and any other credit agreements. These reduce your affordability as lenders deduct them from your available income.
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5
How many times your income can you borrow?
Most lenders offer 4-4.5x your annual income. Some offer up to 5.5x for certain professions (doctors, lawyers, accountants) or if you have a large deposit and excellent credit. First-time buyers typically get 4-4.5x. The multiplier depends on your lender and circumstances.