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mortgage affordabilty calculator_mortgage borrowing_how much can I afford to borrow

Need to find out how much you can borrow? Speak to an advisor today to find out your mortgage capacity.

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  • mortgages_commercial mortgages_life insurance_development finance_
  • mortgages_commercial mortgages_life insurance_development finance_

When it comes to mortgage affordability, there's no universal model that fits every situation. Lenders consider various factors before deciding how much they are willing to lend you It's important to remember that online calculators may not always provide an accurate estimate of your borrowing capacity. Understanding these nuances can help you navigate the mortgage process more effectively.

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10-15 minutes on the phone will give you a better idea of what you can borrow and what you can afford.

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1

Your Situation

Lenders may lend more to first-time buyers, less to self-employed applicants, and vary their decision based on loan-to-value. All of this needs to be assessed before a final figure can be presented to you to make an informed decision. 

2

Your Income

Most lenders will use an income-multiple model to reach their decision but the factor can vary depending on total individual or combined income. Lenders will also look at bonuses, overtime, commission and contractual allownaces.

3

Your Credit Score

Your credit score, level of background debt, and monthly debt repayments will play a big part in a lenders decision on borrowing capacity. Don't assume that an excellent score and strong income will work in your favour. 

Broker Mortgages Ltd is an appointed representative of The Openwork Partnership, a trading name of Openwork Ltd and is authorised and regulated by the Financial Conduct Authority (934318)

Openwork Ltd is authorized and regulated by The Financial Conduct Authority (FCA).

Broker Mortgages Ltd is registered in England and Wales. Company Registration Number 12129355

85 Great Portland Street, First Floor, London, England, W1W 7LT

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The information on this website is for use of residents of the United Kingdom only. No representations are made as to

whether the information is applicable or available in any other country which may have access to it.

Please view a copy of our privacy policy here.

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