Our Free Mortgage Calculators

It’s important to look at the big picture when calculating how much mortgage you’ll be able to afford. This includes your income, debts, credit score, and the amount you can put down as a deposit.

A mortgage should fit comfortably within your budget, not taking up more than about a quarter of your gross monthly income, with all debts staying under a third of it.

Our mortgage repayment calculator is designed to give you an approximation of these monthly repayment costs, but the real question of what you can borrow involves more. It’s about what’s realistic for you long-term.

Our team of experienced brokers can guide you through understanding your borrowing limits, and finding a deal in line with your needs. Get in touch to start your journey today

Online mortgage calculators offer a useful starting point for people beginning their mortgage journey, helping estimate figures including borrowing ability and potential monthly repayments.

With this said, while they can provide a good indication, they can’t account for all variables in your financial situation – or fluctuating interest rates.

For a fully accurate and personalised overview of your mortgaging potential, it’s best to speak directly with a professional. My Mortgage Planner’s expert brokers can work with you to deliver information and recommendations that online calculators alone can’t match.

The first step towards securing a mortgage is to assess your financial landscape. Before even consulting a broker, you might want to begin by looking at your budget and calculating how much you’ll be able to put down as a deposit. Using online calculators with this figure in mind can give you a preliminary idea of what you could afford, including potential monthly repayments.

After this initial self-assessment, we recommend reaching out to a reputable mortgage broker. They can provide a more detailed and accurate picture of your mortgage potential by reviewing your finances and guiding you through the pre-approval process, and beyond.

Mortgage calculators are user-friendly tools designed to provide potential borrowers with an insight into their mortgage – whether that be how much they’ll be able to borrow, how much their stamp duty will be, and how much they’re likely to repay every month.

Most of these calculators use industry-standard formulas factoring in key details such as the purchase price of a property, expected deposit, interest rate, and loan term. They generally cover details like principal and interest, whilst more advanced versions might offer figures relating to additional costs – for example, property taxes and home insurance.

These calculations give you a preliminary look at your costs, and can aid in budget planning – but remember, they’re only estimates.

When it comes to buy to let mortgages, the final amount you’ll be able to borrow is influenced by a few factors – namely the potential rental income of the property (rather than just your income).

Lenders typically expect this income to be 25-30% higher than your mortgage payment, ensuring a buffer for any unforeseen costs. The actual amount you can borrow will also depend on your deposit size, credit history, and whether you meet the lender’s criteria.

Taking your first steps into buy to let? Use our buy to let calculator as a starting point—it can give you a clear estimate of the loan amount you might be eligible for.

Calculating the stamp duty payable on your property purchase can be difficult with so many tax bands and levels of relief available. Ultimately, the final figure will depend on the purchase price of your property, its location, and whether it’s your first home or an additional property. Some buyers may even be exempt.

Our stamp duty calculator offers a straightforward way to determine your potential stamp duty. Just input the purchase price, and let us handle the maths, giving you a clear figure to factor into your budgeting.

The idea that your maximum borrowing capacity should sit at somewhere around 4.5 times your salary is a common guideline – but not a hard-and-fast rule.

When putting together a mortgage in principle or processing your application, lenders take into account a range of factors, including your overall income, debt-to-income ratio, credit history, and financial stability to determine how much they’re willing to lend. While 4.5 times your income is a typical multiplier for many lenders, some may offer more or less, depending on their lending criteria and your financial circumstances.

Mortgage calculators are purely informational tools. They’re designed to give you an estimate of figures like your potential mortgage repayments or borrowing ability based on the details you input, like income, loan amount, interest rate, and loan term. Since there’s no credit check involved when using these calculators, your credit score will remain unaffected.

It’s when you proceed with an actual mortgage application, your credit score will come into play. Lenders will conduct a hard credit check as part of the approval process, which can influence your credit score – so should be done with caution.

Understanding your monthly mortgage repayments is key to planning your buying budget, especially if you’re at the very beginning of your journey.

The amount you pay each month will be influenced by how much you borrow, the interest rate of your mortgage, and how long you take to pay it back.

For a quick estimate, why not use our mortgage repayment calculator? It’ll give you a snapshot of your potential monthly costs in minutes.