Affordability calculator

Two incomes, a deposit and your monthly commitments are enough to size a case. The figure that decides most applications is not the payment you would make, it is the payment a lender tests you against.

Your income£

Joint income£

Deposit£Monthly commitments£

Rate %

Term (years)

Mortgage type

You could borrow£333,000

Property budget£373,000

Deposit£40,000

Loan to value89.3%

Loan to income4.32x

Monthly repayment£1,727

Stressed at 7.7%£2,374

Based on 4.5x income after commitments, stress tested 3 points above the pay rate. Lender criteria vary. An estimate, not a mortgage offer.

How the figures are worked out

Income multiple

Borrowing is capped at 4.5 times combined income after annualised commitments. Above that ratio you need a specialist lender, so the figure turns red to flag it.

Income multiple

Borrowing is capped at 4.5 times combined income after annualised commitments. Above that ratio you need a specialist lender, so the figure turns red to flag it.

The stress test

Lenders assess you at a rate well above the one you would pay. We default to three points above, which is where most affordability assessments currently sit.

The stress test

Lenders assess you at a rate well above the one you would pay. We default to three points above, which is where most affordability assessments currently sit.

What it will not tell you

Credit history, the property itself, and how your income is evidenced all move the answer. This sizes the case. A broker places it.

What it will not tell you

Credit history, the property itself, and how your income is evidenced all move the answer. This sizes the case. A broker places it.