Self Employed / Ltd Co. Director Afford calculator
Find out how much you could borrow and what your repayments might be if you’re self-employed.
Use our calculators below to find out how much you could borrow and what the repayments are for a mortgage if you’re self-employed.
Why use a Self-Employed Mortgage Calculator?
If you’re self-employed, it can be tricky to work out how much you could borrow. Lenders often look at your net profit, salary and dividends, or average income over a few years. Our calculator gives you a rough idea of:
- How much you might be able to borrow.
- What your monthly repayments could be.
This can help you decide on a suitable property price range and plan your finances.
How Does a Self-Employed Mortgage Calculator Work?
It’s similar to a standard mortgage calculator, but you’ll enter your self-employed income rather than a set salary. You can experiment with:- Property Value (£) Enter the price of the home you’re interested in. If you’re not sure, look at recent sales in your chosen area for a realistic idea.
- Deposit (£) Type in how much you’ve saved so far, or what you plan to save.
- Mortgage Interest Rate (%) The calculator starts at 4%, but current deals might differ. Try both higher and lower rates to see the impact on your monthly payments.
- Mortgage Term (years) Commonly 15 to 30 years. Think about your current financial situation and long-term plans when choosing a term.
Please note:
- Our calculator assumes a repayment mortgage. If you want an interest-only option, please speak to us directly.
- It shows monthly costs based on a fixed rate. If you choose a variable rate, your payments can change if interest rates go up or down.
Are Self-Employed Mortgage Calculators Accurate?
All mortgage calculators provide guidance only. Real-life lending depends on many factors, such as credit checks and how each lender assesses self-employed income. To get a precise figure, you should speak to a specialist adviser—especially if you have only one or two years of accounts, or if your earnings vary.
Important Points for Self-Employed Borrowers:
- Extra Fees
Factor in one-off costs like solicitor’s fees and stamp duty. - Monthly Outgoings
Remember bills, insurance, and protection cover—these all add to your monthly costs. - Existing Mortgage or Loans
Check if there are any early repayment penalties or other charges when switching or remortgaging.
What if My Estimated Payments Are Too High?
Don’t worry if the calculator’s figures seem unaffordable:
- There may be other lenders with more flexible criteria for self-employed borrowers.
- You could adjust the mortgage term to lower your monthly repayments.
- A specialist adviser can compare a wide range of deals to find one that better suits your personal and business needs.
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.
Looking for a mortgage? Get in touch with The Mortgage Pod today
Whether you’re looking to buy your first home, moving home or seeking to remortgage, The Mortgage Pod is here to help you find the best deal for your circumstances. Contact us today to arrange a consultation.
