Affordability Calculator

Our Mortgage Affordability Calculator helps you budget buying a home, either by yourself, or sharing with Mortgage Buddies, and tests if you can still afford the all the living costs between you if the mortgage interest rates increased.

Once you have input your income, personal costs, mortgage details and property costs we will calculate how much you have spare at the end of each month.

You receive a Mortgage Affordability Rating which assesses whether you have enough spare money, or if you should try and cut back on your spending. Remember, Mortgage Lenders are now assessing how much you can afford in greater detail, testing to see if you could still afford your mortgage repayments if your mortgage interest rate increased by 3%.

 
 
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What is your 'take home' basic salary excl commission & bonus
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Use your average commission over the last 12 months - don't use your highest ever
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If you get an annual bonus; divide your 'take home' bonus by 12 to get the monthly amount
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Additional income from rental properties
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Shares, dividends, bonds. Remember, if it is a one off amount, divide it by 12 to get a monthly amount
£0.00

Include all income that you are guaranteed to receive and only show the amount excl tax, PAYE or National Insurance

Piggy Bank
 
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Don't include your rent for where you currently live as you no longer pay this once you buy your home
Not Included
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Do you own a rental investment that you pay a mortgage on?
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How much do you pay in credit card repayments?
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If you pay annually, divide this amount by 12 to get your monthly spend
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Don't starve yourself - An average person spends £50 per week (including lunches and snacks)
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Do you refill once, twice or three times a month? How much do you spend each time? Times these two numbers to get your monthly spend
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Professional subscriptions, dating sites, online forums
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Films, cars, equipment
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On average this could equate to £150 per month (£400 MOT, £50 Dentist, £350 Presents, £1,000 holidays)
£270.00

Think about all the things you buy each month, every quarter or once a year.

Outgoings
 

Our mortgage calculator is here to help you and give you an guide to how much your mortgage is going to cost you.

 
£0.00
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Painting, locks, windows, cleaning materials
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Boilers are expensive when they break and need maintaining annually
£445.00

You may not know the exact property costs so we have filled some of these in for you. Make sure you check and update where necessary.

Property Expenses
 
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If you are buying on your own you pay all of the property costs
£-715.00
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Including you, how many Mortgage Buddies are you buying with - remember you can have up to 4 people
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By sharing with other Mortgage Buddies you share the property costs between you making it more affordable.
£-715.00

Buying with other people reduces your property costs making buying a home more affordable.

See how much you can save when you share with up to 4 people.

...so what's next?

 
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