Mortgage Affordability
Mortgage Affordability Calculator
Fill out our quick and easy Mortgage Affordability calculator below. We only require a few details to see how much you may be able to borrow.
Low Income Mortgages
It is possible to obtain a mortgage with low income. While income is important to mortgage lenders, it is your affordability that will determine your eligibility.
Getting a mortgage 7 times your salary
Many lenders will only approve a maximum income multiple of five times income. However, there are some possibilities where some potential borrowers may be able to qualify for a 7x wage mortgage.
What is a Joint Borrower, Sole Proprietor mortgage?
Affordability is crucial not only to determine your eligibility for a mortgage but also to what mortgages are available to you. A Joint Borrower, Sole Proprietor mortgage may be the one for you.
What is the longest mortgage term in the UK?
When it comes to mortgages, there are several aspects to consider, one of which is the overall duration. Certain limits may apply when it comes to your mortgage term.
Monthly payments on a £200,000 mortgage
If you ask someone else with a £200,000 mortgage what they pay each month, the answer will likely differ from yours. This is because, while you may be borrowing the same amount, other factors might influence the amount you pay each month.
Repayments on a £150,000 mortgage
Everyone’s circumstances are unique, as are their borrowing requirements. As a result, mortgages come in a variety of forms and sizes. This article focuses on a £150,000 mortgage, which is currently very typical.
What mortgage can I get with my salary?
One of the main conversations we have with clients is on the subject of what is the maximum they are able to borrow or if they are able to get the amount they wish to borrow.
What to do if you can't afford a mortgage
One of the most common reasons a new individual, family, or someone looking to relocate approaches us for help is that they do not meet a lender’s affordability criterion.
What stops you getting a mortgage?
Regardless of your reason for considering a mortgage, there are a number of fundamental criteria that will apply; for some applicants, one or more of these may impact their ability to be approved.
A guide to bank statements for mortgage applications
Funds paid into and paid out of a bank account are the principal means of managing money for many people. Because this is how nearly everyone handles their day-to-day finances, it is likely that you will be required to provide your bank statements when applying for a mortgage.
Phil Scott
Director
About the author
Phil has worked in the financial services industry since 1992, having started with a large insurance company. He went self employed in 1996 as an Independent Financial Adviser before setting up his first company, Needham Market Home Financial in 1999.
After four years, he decided to concentrate solely on mortgages and related insurances, and The Mortgage Centres was born. Since then, Phil has been influential in the opening of several new offices as the business continues to grow.
Qualifications
Financial Planning Certificate: 1,2 & 3
Year Attained: 1992
Certificate in Mortgage Advice and Practice (CEMAP)
Year Attained: 2001
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