Home > Calculators > Mortgage Affordability Calculator

Mortgage Affordability Calculator

Calculate How Much You Could Borrow

How Many People Are Applying? (?)

Number of Applicants

Applicant 1

Gross Annual Income (?)

Annual Guaranteed Bonus (?)

Other Annual Income (?)

Monthly Commitments

Total Monthly Loan Payments (?)

Total Outstanding Credit Card Balance (?)

Other Monthly Financial Commitments (?)

Lender Income Multiple

Income Multiple (?)

4.5 4.75 5 5.25 5.5

Before diving into the property market, it’s important to understand how much you might be able to borrow. This calculator is designed to give you an estimate based on your income and outgoings. Whether you’re applying alone or with others, our tool will help you gauge your potential borrowing power.

Simply enter your financial details, adjust the income multiplier, and we’ll do the rest! Remember, this is only a rough guide—lenders will calculate affordability differently. For accurate advice, always consult with a qualified mortgage advisor or mortgage lender.

How It Works

Using our Mortgage Affordability Calculator is simple and straightforward. Follow these steps to get an estimate of how much you could borrow:

Select the Number of Applicants
Choose how many people will be applying for the mortgage—this could be just you or up to four applicants.
Enter Income Details
For each applicant, fill in their gross annual income, any annual guaranteed bonuses, and other income sources like benefits or maintenance payments.
Add Monthly Commitments
Enter details about your monthly financial commitments, including loan payments, outstanding credit card balances, and any other recurring financial obligations.
Adjust the Income Multiplier
Use the slider to select the income multiplier, which reflects how much a lender might be willing to lend based on your income. Most lenders offer up to 4.5 times your income, but some may offer more.
Get Your Estimate
Click “Calculate,” and our tool will show you an estimate of the maximum mortgage you might be able to borrow. This is based on the information you’ve provided and the selected income multiplier.

Important Reminder
The results are a rough guide only. Different lenders have different criteria, so it’s essential to speak to a qualified mortgage advisor for more accurate advice before making any financial decisions.

Important Information...

This information is generated by a computer and is based on certain assumptions, with results rounded for simplicity. This calculator is intended to provide a general estimate.

It’s essential to obtain a specific quote from your lender and verify the figures independently before making any decisions. We cannot be held responsible for any inaccuracies.

Related Posts

Loan To Value and Potential Borrowing Calculator

Loan To Value and Potential Borrowing Calculator

Discover how much equity you can unlock from your property with our Loan To Value and Potential Borrowing Calculator. By entering your property’s value and outstanding mortgage balance, you can calculate your current loan-to-value (LTV) ratio and find out how much more you could borrow. Whether you’re planning home improvements,

Buy To Let Rental Yield Calculator

Buy To Let Rental Yield Calculator

Discover the potential of your investment property with our Buy To Let Rental Yield Calculator. Quickly and easily calculate key metrics like rental yield and return on investment (ROI) to make informed decisions in the property market. Assess profitability, understand your monthly cash flow, and optimize your investment strategy with

Stamp Duty Land Tax (SDLT) Calculator

Stamp Duty Calculator

Quickly calculate the Stamp Duty Land Tax (SDLT) you’ll owe when purchasing a residential property in England or Northern Ireland. Our Stamp Duty Calculator provides instant estimates for first-time buyers, those moving home, or buying an additional property. Plan your finances confidently with our easy-to-use tool.

Mortgage Overpayment Calculator

Mortgage Overpayment Calculator

Discover how making overpayments on your mortgage can save you money and reduce your mortgage term. Use our Mortgage Overpayment Calculator to see how extra payments can lower your overall interest costs and help you become mortgage-free faster.

Expert Insights into Elite Real Estate & Finance

I am a seasoned property market expert with over 20 years of experience. Formerly a mortgage broker, estate agent, and property developer, I have a comprehensive understanding of the industry from multiple angles.
My articles aim to demystify the property market, drawing on my extensive experience to guide readers through their real estate journeys.