MORTGAGE AFFORDABILITY CALCULATOR What size mortgage loan can you afford?

If you find the calculator below a little daunting then you may want to consider getting in touch with a professional mortgage advisor ... more  Enter/amend figures in each field.  Press tab for next field Enter the total mortgage payments you think can you afford each month £ per month Enter the total payment term in years: Note that a mortgage normally ends on retirement years Enter likely largest annual interest rate % pa over the next few years: % p.a. Single income multiple: x annual income Joint income multiple: x joint income Results Approximate max mortgage loan (repayment or interest only + savings) possible with the above conditions: advance Approximate gross annual single income typically required to qualify for the above loan: per annum Approximate gross annual joint income typically required to qualify for the loan: per annum Note: The loan is assumed to be a fixed multiple (usually 3 to 3.5) of single income or of joint income (usually 2.5 to 2.75). Some lenders apply these simple multiples, but others apply an "affordability" test where the maximum loan depends on personal outgoings, children etc. See "Mortgages Exposed" for more on-line tools