Understand how much you could afford to borrow.
Explore an estimated mortgage budget using your income, deposit, interest rate and mortgage term. Use the result as a starting point when planning your home purchase.
Plan around your budget.
A useful affordability estimate combines income, deposit, mortgage costs and your wider spending.
Explore an estimated mortgage budget.
Enter your annual household income, deposit, interest rate and mortgage term. The calculator uses an illustrative income multiple to provide an estimated borrowing figure.
Your affordability details
Adjust the figures to explore different scenarios.This is an illustrative estimate only. Actual mortgage affordability depends on lender criteria, income, expenditure, credit history and individual circumstances.
Try changing the income multiple, deposit or interest rate to compare different scenarios.
Explore the mortgage topics that matter next.
Once you have an idea of your potential budget, explore mortgage guides covering applications, mortgage types, first-time buying and repayment planning.
Mortgage Guide
Understand how mortgages work, what affects repayments and the main factors to consider before choosing a mortgage.
Explore Mortgage Guide →First-Time Buyer Mortgages
Learn about deposits, affordability, mortgage options and the key stages involved in buying your first home.
Explore First-Time Buyer Guide →Mortgage Application
Understand the main stages of applying for a mortgage and the information lenders may ask you to provide.
Explore Mortgage Application →Remortgaging
Learn how remortgaging works and what factors you may want to review when considering a new mortgage deal.
Explore Remortgaging →Fixed-Rate Mortgage
Understand how fixed-rate mortgages work and how a fixed introductory rate can provide greater payment certainty.
Explore Fixed-Rate Mortgages →Mortgage Calculator
Estimate potential monthly repayments using your mortgage amount, interest rate, deposit and repayment term.
Use Mortgage Calculator →Affordability is about more than income.
A headline borrowing figure does not show the complete picture. Lenders can consider income, regular spending, existing financial commitments and other factors when assessing an application.
That is why an affordability calculator is best used as an initial planning tool rather than a guarantee of how much a lender will offer.
Build a mortgage budget that works beyond the calculator.
A sensible home-buying budget should leave room for everyday spending, unexpected costs and changes in your financial circumstances.
Your deposit can change the overall borrowing picture.
A deposit reduces the amount that needs to be borrowed and changes the relationship between the mortgage and the property's value. This relationship is commonly expressed as loan-to-value, or LTV.
Think about the full cost of owning a home.
Mortgage repayments are only one part of the cost of buying and maintaining a property. Planning for the wider picture can help you create a more realistic budget.
Practical mortgage and home-buying insights.
Explore the latest GrowthSmartly articles covering mortgages, affordability, home buying and personal finance.
Mortgage Affordability FAQs
Common questions about mortgage affordability, borrowing estimates and home-buying budgets.
Start with a clearer view of your mortgage budget.
Explore different income, deposit and mortgage scenarios before moving on to the next stage of your home-buying journey.