Updated: April 12, 2023
Mortgage Calculators
Use our selection of calculators to work out how much you could borrow on a mortgage, what your repayments will be and more
No impact on your credit score
This is our hug page for mortgage calculators, a place where you can find a range of tools to help you work out the vital numbers for your home finance needs.
Here, you will find calculators for mortgage affordability and repayments, equity release, bridging loans and much more. Select a calculator from the menu below to get started.
Choose a calculator
Mortgage Repayment Calculator
Our mortgage repayment calculator can tell you how much your mortgage will cost you each month and overall. Enter the amount you’re borrowing, the term length and interest rate, and our calculator will do the rest.
Monthly Repayments:
Total amount paid at end of term:
Get started with an expert broker to find out how much they could help you save on your mortgage repayments.
Debt to Income Ratio Calculator
You can use our debt-to-income (DTI) ratio calculator to work out how much of your income is going towards your fixed outgoings, expressed as a percentage. Based on that percentage, this tool will tell you whether mortgage lenders will class your DTI as low, medium or high.
Your Debt to Income Ratio is %
Good news! Most mortgage lenders will class your debt-to-income ratio as low. You’re unlikely to be declined for a mortgage based on your outgoings, but speaking to a mortgage broker before applying is still recommended as they can improve your chances of getting the best deal.
Most mortgage lenders will class your debt-to-income ratio as moderate, which means some of them might view your application with caution. Some lenders are much more strict than others when it comes to affordability and debt, so it’s important for you to find a lender who’s more lenient. You should speak to a mortgage broker before you apply to ensure you’re matched with a lender whose criteria you fit.
Most mortgage lenders will class your debt-to-income ratio as high. But that’s where we can help! With so much of your monthly income going towards debt repayments, you could struggle to get approved for a mortgage without the help of a mortgage broker. We can help you find a lender who’s more lenient on debt and affordability, and could still secure a mortgage approval.
Mortgage Affordability Calculator
Our affordability calculator can tell you how much you can potentially borrow from a mortgage lender. Simply enter your total household income below and our calculator will do the rest.
You could borrow up to
Most lenders would consider letting you borrow
This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.
Some lenders would consider letting you borrow
This is based on 5 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.
A minority of lenders would consider letting you borrow
This is based on 6 times your household income, a salary multiple you will struggle to get without a broker. Six-times salary mortgages are usually only available under very specific circumstances.
Get Started with an expert broker to find out exactly how much you could borrow.
Mortgage Difference Calculator
Our mortgage difference calculator will show you how much your monthly repayments could change with a different interest rate to what you have currently. Enter your outstanding mortgage amount, remaining term, both current and new interest rate. Our calculator will then do the rest.
We estimate your current monthly repayments are
At this rate, your payments could change by…
Speak to an experienced broker to help find you the best mortgage solution for your current circumstances.
Equity Release Calculator
You can use our equity release calculator to work out how much capital you can release from your home. Simply enter your age and the property’s value and the tool will do the rest.
Maximum Equity you could release:
The amount is of your homes value, the maximum most borrowers your age can release.
Get Started with an Equity Release Specialist and find out exactly how much you could release.
Bridging Loan Calculator
This calculator will tell you how much your bridging loan will cost each month and work out your loan-to-value ratio to give you a better idea of whether your finance agreement is affordable.
Loan-to-value:
Total monthly payment:
Total interest:
Now that you have a clearer idea of how much your loan will cost, you should speak to a bridging finance broker to explore all of your options and boost your chances of getting the best deal possible.
Self-Employed Mortgage Calculator
This calculator can work out your maximum mortgage borrowing if you're self-employed. Select your trading style from the drop-down menu, then enter your income and outgoings, and our calculator will do the rest.
You could borrow up to
Most lenders would consider letting you borrow
This is based on 4.5 times your net profit or the total income declared. To borrow more than this, you will need to speak to a mortgage broker who specialises in self-employed borrowers
This is based on 4.5 times your share of the partnership's net profit or total income declared. To borrow more than this, you will need to speak to a broker who specialises in self-employed borrowers
This is based on 4.5 times your share of the net profit/salary plus dividends, or total income declared. To borrow more than this, you will need to speak to a broker who specialises in self-employed borrowers.
This is based on 4.5 times your income. To borrow more than this, you will need to speak to a broker who specialises in self-employed borrowers.
Some lenders would consider letting you borrow
This is based on 5 times your net profit or your total income recieved. This income multiple is often unavailable to borrowers who aren't applying through a mortgage broker.
This is based on 5 times your share of the partnership's net profit or your total income recieved. This income multiple is often unavailable to borrowers who aren't applying through a mortgage broker.
This is based on 5 times your share of the net profit/salary plus dividends, or your total income recieved. This income multiple is often unavailable to borrowers who aren't applying through a mortgage broker.
This is based on 5 times your income. This income multiple is often unavailable to borrowers who aren't applying through a mortgage broker.
A minority of lenders would consider letting you borrow
This is based on 6 times your net profit or the total income declared. This income multiple is only available under specific circumstances and is usually only accessible via a broker.
This is based on 6 times your shares of the net profit or total income declared. This income multiple is only available under specific circumstances and is usually only accessible via a broker.
This is based on 6 times your share of the net profit/salary plus dividends, or total income declared. This income multiple is only available under specific circumstances and is usually only accessible via a broker.
This is based on 6 times your income. This income multiple is only available under specific circumstances and is usually only accessible via a broker.
Now that you have a rough idea of your maximum borrowing, get in touch to speak to a mortgage broker who can provide bespoke calculations and access to the best rates and deals.
What is a mortgage calculator and how do they work?
The term ‘mortgage calculator’ can refer to a range of different tools. The most common types are mortgage affordability calculators and mortgage repayment calculators.
An affordability calculator can tell you the maximum mortgage amount you could potentially borrow by taking your income and multiplying it by the figure most lenders use to work out maximum loan sizes. This is typically 4.5 times your salary, but some mortgage providers go higher.
Meanwhile, a mortgage repayment calculator can tell you how much your mortgage will cost each month and overall. It would work this out based on the amount you have borrowed, the interest rate you enter and the term length the mortgage agreement will be taken over.
Some repayment calculators – like the one you’ll find on our website – can return separate results for interest-only and repayment mortgages so you can compare deals side by side.
Other types of mortgage calculators
Not all mortgage calculators are for working out affordability or repayments. Some provide more niche information, such as your loan-to-value ratio, while others are for specific types of property finance, including buy-to-let mortgages, equity release and bridging loans.
There are also calculators for specific types of borrowers where the standard rules around affordability may not apply. These include contractors, sole traders and company directors.
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When they can be useful
Mortgage calculators can be very useful for providing you with a ballpark figure of your maximum borrowing and also the cost of your mortgage.
Not only will this offer some clarity on whether you could afford the loan and successfully buy the property you’ve got your eye on, it will give you an idea of things like how much deposit you’ll need to save and what your budget should look like.
Calculators can also be useful for comparison purposes.
For example, you could compare what your repayments will look like if you took out a longer or short term length – as most lenders offer an element of choice here – and also compare different rates based on the ranges available.
Moreover, with a mortgage affordability calculator you could get an idea of which income multiple you will need to borrow based on.
For instance, getting the mortgage you need might only be possible if you were to borrow 5.5 salary – in this scenario, you would know that you need to find a lender who stretches higher than the typical cap, for which you would usually need to use a broker.
How to use a mortgage calculator
They’re really quite simple to use and all of the calculators on our website come with straightforward instructions about the information you need to enter and where you need to input it.
Below you’ll find the details you will need to have to hand for standard mortgage calculators…
- Affordability: Just your total household income will do, but if you’re self-employed you will be asked to enter the number of years you’ve been trading plus profits.
- Repayment: You’ll need to know the amount you’re looking to borrow and the term length you want to take the loan out over. It’s also a good idea to research how interest rates can vary in the current market and carry out a range of calculations for comparison purposes.
More specialist calculators, such as our buy-to-let one, have additional input fields and work differently but you will find easy-to-follow instructions baked into the tools themselves.
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Things to consider
First and foremost, be aware that all mortgage calculators can only give you a rough idea of the amount you can borrow and what your repayments will be.
Keep in mind that factors such as the income multiple your lender uses and the interest rate you end up with could vary.
There are also lenders who calculate affordability differently, taking variables such as outgoings into account, and types of property finance that are assessed on a bespoke basis, like commercial mortgages, for instance.
This doesn’t mean that general mortgage calculators are of no use at all.
They can be great as a starting point for your mortgage journey, giving you ballpark figures as a baseline to save and budget towards – but seeking bespoke advice after crunching the numbers is recommended.
Get bespoke calculations from a mortgage broker
While mortgage calculators can be a great starting point for your journey towards homeownership, they can only ever return rough estimates.
The right mortgage broker can, however, provide you with fully accurate and bespoke calculations tailored to your profile as a borrower.
Not only does this mean you’ll have more precise information to work with, your broker can provide you with context and insight into these figures and help you use them to your advantage.
From here, they can help you complete your journey by pairing you with the ideal mortgage lender to maximise your borrowing and make sure you aren’t paying over the odds.
Call 0808 189 0463 or make an enquiry and we’ll match you with the best mortgage broker for you today.
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We want you to have complete confidence in our service, and get the best chance of securing your mortgage. We guarantee to get your mortgage approved where others can’t – or we’ll give you £100*
FAQs
For standard residential mortgages in the UK this is usually the case, but the income multiple you’re offered can vary based on factors such as the lender you choose and the profession you’re in.
Other types of mortgage are calculated differently, though. For example, buy-to-let mortgages are assessed based on the property’s projected rental and commercial lending is always bespoke.
Typically up to 4.5 times your annual salary for a residential mortgage, although some lenders might stretch to 5 times salary or even higher than this if you have a strong application.
For other types of mortgage, such as buy-to-let, affordability is assessed differently and will largely come down to the amount of rental income the property is forecast to generate. Most lenders will expect the projected rental income to cover the mortgage by 125-145%.
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We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in all different mortgage subjects. Ask us a question and we'll get the best expert to help.
