To help you in your initial planning, our Mortgage Calculator will let you work out how much you might be able borrow and how much that level of mortgage could cost. These should only be used as indicative figures however.

Mortgage lenders will generally lend up to 3 x the higher income plus 1 x the lower income or 2.25 x joint income, whichever is the higher. To estimate your mortgage, run the calculator by clicking on the link below.

Remember that your home is at risk if you fail to keep up the repayments on a mortgage or other loan secured on it.

Instructions for use:
Enter your main and second household incomes, where applicable. By specifying how much you can afford to pay monthly, you can calculate what size of a mortgage you can afford. You can also calculate the monthly repayments for a desired mortgage.

Select the current Interest Rate, and prefered loan term, then click on the Calculate Mortgage button.

 Enter Main Income* £
Enter Second Income* £
Affordable Monthly Mortgage Payment* £
Desired Mortgage* £
Select Interest Rate %
Select Loan Term in years

 
Possible Mortgage available from Lender £
Monthly Repayment* £
Mortgage based on Affordable Monthly Mortgage Payment* £
Monthly Repayment based on Desired Mortgage* £


* Income figures should be basic annual salaries, excluding bonuses, commission, etc.

* Monthly Repayment figures are based on the Possible Mortgage, the Interest Rate and Loan Term and assume a Capital + Interest Repayment scheme.

* The Affordable Monthly Mortgage Repayment should reflect how much you can reasonably afford to set aside each month to pay off you mortgage. Use this to gauge whether you are over taxing yourself.

* The Desired Mortgage reflects the mortgage you require to obtain a particular property. You should compare the calculated monthly repayment figure with the Affordable Monthly Mortgage Payment to ensure that you will be able to afford such a level of mortgage.

For the paranoid: None of the above figures are transmitted over the Internet.

There are estimated to be more than 5000 different mortgage products available on the market. @home work with a panel of Independent Mortgage Advisors to help our clients find the mortgage best suited for them. To arrange a meeting with one of them complete the Information Request Form or telephone 0131-446-0000.

 

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