Home / Calculators
Two sums worth doing before you view anything
What a mortgage would cost each month, and roughly what a lender would let you borrow. Change any number and the answer updates as you type.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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Based on the figures you’ve entered
- Amount borrowed
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- Loan to value
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- Total interest
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- Total repaid
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Lenders typically range from —
- Total household income
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- Credit commitments
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- Property budget with deposit
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These calculations provide an illustration only and do not constitute a formal quotation or regulated financial advice. Lenders assess affordability on your full circumstances — credit history, dependants, committed outgoings and the property itself — so the figure they offer may be higher or lower. Speak to Ujjwal for a decision in principle based on real lender criteria.
Reading the results
What the numbers actually mean
Loan to value (LTV)
LTV is the size of your mortgage as a percentage of the property’s value. Buy a £200,000 house with a £20,000 deposit and you’re borrowing £180,000 — a 90% LTV.
This matters more than almost anything else, because lenders price in bands. The usual thresholds are 95%, 90%, 85%, 80%, 75% and 60%, and the rate drops each time you cross one. Scraping together another £2,000 to get from 91% to 89% can be worth far more than the £2,000 itself. The calculator tells you how close you are to the next band down.
Repayment versus interest only
On a repayment mortgage each monthly payment covers interest plus a slice of the debt, so the balance reaches zero at the end of the term. On interest only you pay only the interest — the payment is lower, but you still owe the full amount at the end and must show the lender a credible plan to repay it. Residential interest-only lending is now tightly restricted; it’s far more common on buy-to-let.
The income multiple
The affordability tab uses 4.5 times income, which is where most UK lenders sit, and shows a range from 4 to 5.5 times. Some lenders stretch further for higher earners or for professions such as doctors, dentists, solicitors and accountants.
Credit commitments pull the figure down hard. A £300 monthly car finance payment can cost you roughly £16,000 of borrowing. If you’re close to your limit, clearing a loan before you apply is often more effective than saving a bigger deposit.
What the calculator can’t see
Real lender decisions also depend on your credit file, how long you’ve been in your job, whether you’re employed or self-employed, how many dependants you have, your regular outgoings, and whether the property itself is acceptable security. Two people with identical salaries can get very different offers.
That’s the gap a broker fills. Book a free call and we’ll give you a figure you can actually rely on.
Want a number you can rely on?
A twenty-minute call gets you a realistic borrowing figure and, if you want it, an agreement in principle within a day or two.