Mortgage Affordability Calculator

Use our handy calculator to estimate how much you could potentially borrow for your new home.

Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.

Your Income

Your Results:

You could borrow up to

Most lenders would consider letting you borrow

This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers.

Some lenders would consider letting you borrow

This is based on 5 times your household income, the calculation is often used for those with good sized deposits and/or reasonable levels of income and good credit.

A minority of lenders would consider letting you borrow

This amount may be possible with some lenders, but not most. Those with larger deposits and higher incomes may have more options.

Are you looking to buy a property in the UK? Our Mortgage Affordability Calculator helps you get an idea of your borrowing potential based on your income and typical lender practices. It’s a valuable tool for budgeting and planning your next move.

Please Note: This calculator provides an estimate only and does not constitute financial advice. The Mortgage Pod is not authorised to give any tax or legal advice.

How to Use the Mortgage Affordability Calculator

Simply enter your annual salary and any additional income, along with details of your current financial commitments. Click to see your estimated borrowing amount!

We ensure our calculator reflects the latest borrowing standards, but for exact figures and personalized advice, consult a financial advisor.
Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.

How is Mortgage Affordability Calculated?

Lenders generally assess how much you can borrow based on:

– Your income: Salary, bonuses, and other regular income.
– Your outgoings: Existing debts and monthly expenses.
– The mortgage type: Fixed or variable rates and loan terms.

Mortgage Affordability Factors 2024

The amount you can borrow depends on:

– Income Multiples: Lenders typically use income multiples to determine borrowing limits.

– Debt-to-Income Ratio: The proportion of your income that goes toward existing debts and expenses.

– Loan Terms: The length and type of the mortgage you are considering. Understanding your borrowing potential is just the start.

To get a comprehensive view of your mortgage options and discuss your unique situation, contact The Mortgage Pod. Our team is ready to offer tailored advice and guide you through the mortgage process.

What our customers are saying about us

Customer service and communication are our strong points, but we don’t expect you just to take our word for it. If you have time, please take five and read what our customers are saying about us and why they rate us as a 5-star mortgage broker.

Now you understand your affordability, talk to us about a mortgage

To get a clear picture of your mortgage affordability, it’s essential to understand all the costs involved in buying a property.

Speaking with a mortgage adviser can help you navigate these expenses and determine what fits within your budget. Contact The Mortgage Pod today for tailored mortgage advice based on your unique circumstances. We look forward to helping you!