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Mortgage Calculators

If you’re looking into a mortgage, our various calculators will help guide you to see what you could be entitled to borrow and what might suit your needs best.

What is a mortgage calculator?

A mortgage calculator is an online tool, used to indicate the affordability of different mortgages. They are essential when budgeting as they can give you an idea of your deposit requirements and monthly payments.
Our quick mortgage calculators can give you an indication of how much you could borrow depending on your circumstances.

Will it affect my credit score?

No, our calculators won’t affect your credit score because they don’t perform credit checks. They simply give an indication of things like your affordability, or how much you could borrow for a mortgage depending on the type of mortgage you’re looking for.

How does a mortgage calculator work?

Each mortgage calculator is different, you will be asked different questions depending on the calculator. All our calculators use the same principle to arrive at the result:

  • Firstly, you will be asked to input information about your personal circumstances.
  • And then in return, you will be given an outcome about affordability, or your chances of obtaining a mortgage.

For example:

  • With a Right-to-Buy calculator, the outcome will indicate your chances of getting the mortgage based on your circumstances.
  • An Affordability calculator will tell you how much you can borrow based on your income and deposit.
  • A Mortgage Repayment calculator can help you to calculate mortgage payments based on interest rates and so on.
  • Our Bad Credit calculator can help you to understand how much you might be able to borrow. It looks at your credit score and the type of bad credit circumstances you have.
  • Our Buy-to-Let calculator can help you to understand if you will be eligible for a mortgage based on the rental income you expect and how much mortgage you need.

Are mortgage calculators accurate?

A mortgage calculator is not 100% accurate because there is no one-size-fits-all option with mortgages.

However, they can indicate how much you may be able to borrow. They can be useful in helping you to plan for applying for a mortgage by:

  • Helping you to understand your affordability.
  • Giving an indication of roughly how much you might be able to borrow based on your circumstances.
  • Showing how much stamp duty you might pay on a property.

Because calculators only give an indication, it is always best to speak to a mortgage adviser before approaching a lender. As mortgage advisers, we can help you get the best deal for your circumstances through our great relationships with lenders.

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