Mortgage Affordability Calculator 2026

Our residential mortgage affordability calculator works by asking you a series of questions regarding your income and monthly expenses. From this, it will then be able to give you an estimate of how much you could borrow.

You will firstly be asked how many applicants there are, giving you the choice between one or two. However, it’s possible to get a mortgage with three or four applicants, although the lenders you can approach are limited.

You will then be asked about what type of monthly expenses you have and how much they are costing you. This will include costs such as hire purchases, student loans, and credit cards.

By understanding both your income and expenses, the mortgage affordability calculator will be able to gauge what you can afford. It is important to note that the final amount you are given is just a guide. A lender’s affordability assessment may result in a completely different amount. Therefore, speaking to an experienced broker who can help guide you is always beneficial.

If you’re concerned about how your financial situation might impact your ability to get a mortgage, don’t worry – we’ve got you covered. For tips on what to do if you’re struggling to secure a mortgage, check out our guide on what stops you getting a mortgage.

If you’re wondering what your monthly payments will look like with current interest rates, try our mortgage repayment calculator instead.

Based on how much you earn, lenders will usually allow you to borrow between 4 and 5 times your income. In addition, a lender will consider various elements of your personal circumstances to come to a decision.

Obviously, the most important element will be your income, as they need to know you can pay them back. However, there are still other factors that will play a part. Some other things that a lender may factor into your affordability assessment are:

• Your deposit size – if you can offer a larger deposit, you will be seen as less risky. Therefore, a lender may offer you more.
• Any credit or financial commitments – this could be a loan or credit card payments.
• Your age – it will play a part in the length of your mortgage term. The longer your term, the smaller your monthly payments are likely to be.
• Number of dependants – anyone who may rely on you, like a child.
• Other mortgages – some individuals may already have another mortgage.
• Property value – this will help a lender assess the loan-to-value of your mortgage product. It’s essentially what percentage of the property value they will offer you in relation to your deposit amount.
• Travel costs – certain lenders will look at your travel expenditure, for example, a rail pass.

If you’re exploring different types of mortgages, such as low-deposit schemes or joint borrower sole proprietor (JBSP) mortgages, head over to our in-depth guides on low income mortgages and JBSP mortgages to learn more.

Like with borrowing limits, there isn’t a deposit limit lenders impose. Instead, your individual circumstances will play a part in what deposit a lender requires.

It is, in fact, possible to get a 95% mortgage or even a 100% mortgage, meaning you would only need a 5% deposit or none at all. However, it’s more common for individuals to provide a 10%, 15%, or 20% deposit. Lower deposit schemes/offers are more difficult to qualify for and lenders that offer this service are limited.

Again, lenders will consider the loan-to-value during the affordability assessment process. Therefore, if they deem you as a risky borrower because of a bad credit event, for example, they may require you to provide a larger deposit. If you want to find out more about mortgage deposits, we have a full guide on deposits or you can get in touch.