*This calculator has been designed to give you a general indication of how much you could borrow and what this might cost.
This information is computer generated and relies on a number of assumptions as set out below.
To create the mortgage amount range shown within the above box, we multiply you/your additional applicants salary by a certain factor.
For single applicants, to create your lower mortgage range, your income is multiplied by 3.5, mid mortgage range amount by 4 and higher mortgage range amount by 4.5
For joint applicants, to create your lower mortgage range, your income is multiplied by 3, mid mortgage range amount by 3.5 and higher mortgage range amount by 4
To create your suggested monthly payment within the first screen we use the following assumptions
1. We take the mid point of your mortgage range
2. We assume a fixed rate of 2% over the whole term based on the average rate of new fixed mortgages as reported by the BOE in Jan 2018.
3. Assume your mortgage term will last for 25 years
4. Assume you pay no mortgage fees for this calculation
5. Assume interest is charged monthly
6. Assume you have a repayment mortgage
For the additional monthly payments showing a low, mid and higher value we use the multiplication factors outlined above for single and joint applicants along with the assumptions 2-6
It's important you always get a specific quote from the lender, each of which have their own lending criteria, and double-check the price yourself before acting on the information. We cannot accept responsibility for any errors. If you do notice anything incorrect please click here)