0808 189 0463

      Menu

        0808 189 0463

        Updated: April 17, 2024

        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

        calculator icon

        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.


        Enter the amount you're borrowing
        £
        2.5% is an average figure but the rate you get may vary
        %
        25 years is average, but most lenders offer longer and shorter terms
        years

        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.

        calculator icon

        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.


        The amount you get paid each month, after any taxes or contributions have been deducted
        £
        Be sure to include all of your fixed outgoings, as well as any loans or credit card payments you make
        £

        Your Debt to Income Ratio is %

        Risk Low Moderate High

        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.

        calculator icon

        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.

        Input full salaries for all applicants
        £

        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.

        calculator icon

        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.


        Enter the amount of your outstanding mortgage loan here
        £
        Enter the outstanding term of your loan
        years
        Enter the rate you’re currently paying
        %
        Enter the new interest rate here
        %

        We estimate your current monthly repayments are

        At this rate, your payments could change by…

        monthly change
        monthly total

        Speak to an experienced broker to help find you the best mortgage solution for your current circumstances.

        calculator icon

        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.


        Estimate if you're unsure
        £
        For joint applications the amount you can release is based on the age of the youngest applicant
        years old

        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.

        calculator icon

        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.


        How much you're borrowing
        £
        Number of months you're taking the loan over
        months
        This is the monthly interest rate
        %
        Loan amount must be less than property value

        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.

        calculator icon

        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.

        Select your employment type from the menu

        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.

        Get Started with a Broker

        Maximise your chance of approval with specialist advice from a mortgage expert

        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.

        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.

        Our Broker-Matching Service Guaranteed!

        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*

        Learn More
        Mortgage Approval Guarantee or £100 back

        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%.

        Ask Us A Question

        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.

        FCA Logo
        1 of 3
        £
        £
        £
        2 of 3
        3 of 3 Send!

        FCA Disclaimer

        *Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us as well as any of our own are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

        Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.