House Affordability Calculator
Find out the maximum property you can afford based on your income, deposit, and monthly commitments. Uses the standard 4.5× income multiple used by most UK lenders.
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What's the key thing to understand about Income Multiple?
Most lenders use 4–4.5× your gross annual salary as the starting point. Some specialist lenders offer up to 5.5× income for certain professions (doctors, solicitors, accountants). Joint applications use combined income.
What should I know about Stress Testing?
Lenders stress-test your mortgage at 3% above the current rate to ensure you could afford payments if rates rise. This often limits borrowing below the headline income multiple. Large credit card debts or car finance reduce affordability significantly.
What's the key thing to understand about Deposit Size Matters?
A 10% deposit (90% LTV) is the minimum for most lenders. 15% (85% LTV) opens better rates. 25% (75% LTV) unlocks the best deals. Each 5% increase in deposit typically saves 0.3–0.5% on the mortgage rate — worth calculating over a 25-year term.
When to Seek Financial Advice?
Calculator results provide estimates based on stated inputs and should not replace professional financial advice for significant decisions. Free, regulated financial guidance is available through MoneyHelper (moneyhelper.org.uk, 0800 011 3797) for general money queries. Regulated independent financial advisers (IFAs) — find one at unbiased.co.uk — provide personalised advice on mortgages, pensions, investments, and insurance. Advice fees are typically £150-350 per hour or a percentage of assets under management, usually around 1-2% annually. For smaller, one-off decisions, free and impartial guidance is available from MoneyHelper (moneyhelper.org.uk), a government-backed service — a good first stop before paying for full advice.