Mortgage Calculator
How much can I borrow?
Each lender calculates how much you can borrow on a different basis. The information below once calculated will give you an indication of your borrowing potential.
How much will my mortage cost?
The exact cost of your mortgage will depend on a number of factors. The payment calculator below provides an approximate indication of monthly payments. Different lenders will calculate repayments in different ways, using either daily, monthly or yearly interest calculations. For a true cost of lending, please always refer to the APR figure.
As part of the Mortgage Introducer Services group of websites, we strongly recommend that you seek and obtain independent advice from a qualified mortgage adviser, who will listen to your unique circumstances, establish your needs / wants and help you find and obtain the most appropriate mortgage deal to meet your needs.
MORTGAGE CALCULATOR GUIDE
What can a Mortgage Calculator tell me?
How to use a mortgage calculator
The Mortgage calculator for Remortgages
What is Mortgage Calculator
A quick guide to calculate your mortgage budget
Mortgage lenders will calculate how much they can lend you by looking at your income, so complete a budget planner and work out how much disposable income you have to pay a mortgage.
Most lenders will let you borrow 3.25 x salary for a single income and 3.25 times the first income, plus one times the second or 2.5 times the joint borrowers. You may get more depending on your circumstances.
It is vital that you include all outgoings on your planner because you do not want to struggle If interest rates increase or your situation changes, do not overstretch yourself. Do not forget to include added costs such as the loan for a deposit, buildings and contents insurance and life insurance.
Remember if you're buying leasehold property there will be service charges and solicitors' fees and stamp duty.
Calculate your monthly outgoings, such as water, gas and electricity bills and credit card or loans. When you take this from your monthly income you should have a good idea of how much you can afford to make in mortgage repayments.
Once you've worked out how much you can afford to borrow you can start looking around. You can do this online or get advice from an independent financial adviser or mortgage broker. If you decide to go with a broker or adviser, make sure they are independent. If they're tied to one or more lenders you may find your choice of product is limited. If you have been recommended an individual mortgage lender, try going straight to them for information about their products.
When you have decided on the right mortgage for you, take your time and consider all your options before signing up. There are some competitive deals to be had but if something sounds too good to be true, it probably is, make sure you don't rush into anything you're not sure about.
Choosing the best mortgage for you is the biggest and most important purchase that you're ever likely to make, so chose wisely and keep your wits about you.
Receive independent mortgage advice from a qualified broker by completing our no obligation enquiry form.
We believe the best assistance comes from a regulated mortgage broker!
Please read our Terms Of Business for further information.
Registered Office:
Hello Finance Ltd 7 Fidlas Road Llanishen Cardiff CF14 0LW