Mortgage Borrowing Calculator
This calculator will quickly tell you how much you might be able to borrow. Lenders' calculators vary massively, so it's important to speak with an advisor for a true picture of what you can borrow, prior to making an offer.
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Frequently Asked Questions
A repayment mortgage is a type of home loan where you pay back both the capital (the amount borrowed) and the interest each month. By the end of the mortgage term, you will have paid off the entire loan and own your property outright. This is the most common type of mortgage in the UK.
The Loan-to-Value (LTV) ratio is the percentage of the property's value that you're borrowing. Generally, a lower LTV results in better interest rates, as it represents less risk for the lender.
First-time buyers typically need a minimum deposit of 5-10% of the property's value, although a larger deposit can secure better interest rates. Our calculator can help you understand how different deposit amounts affect your mortgage options and monthly payments.
Our calculator allows you to adjust the overall mortgage length to see how this affects your monthly payments.
Yes, our calculator is useful for first-time buyers, home movers, and those looking to remortgage. When remortgaging, you can input your current property value and outstanding mortgage amount to compare new deals against your existing one.
It's advisable to review your mortgage regularly, especially as you approach the end of your initial fixed or discounted rate period. Market conditions and your circumstances may change, potentially offering opportunities for better deals.
While our calculator provides a good estimate for comparison purposes, it's important to note that the actual cost may vary based on individual circumstances and any changes in interest rates over time. We always recommend consulting with a qualified mortgage advisor for personalised advice.
