Mortgage Affordability and Repayment Calculator

Use this calculator to test an indicative mortgage and the monthly repayment that may come with it.

Enter your household income, deposit, preferred income multiple, comfortable monthly repayment, property price, interest rate, term and stress interest rate. The calculator then compares two limits: what your income multiple suggests you might be able to borrow, and what your chosen monthly repayment could support.

It uses the lower of those two figures as the indicative mortgage. It then shows the maximum property price based on your deposit, the loan-to-value ratio for the property price you want to test, the monthly payment at your chosen rate, the stress payment at the stress rate, and the total interest over the term.

The default income multiple is 4.5, but you can edit it. MoneyHelper describes 4.5 times income as a usual cap and notes that lenders apply their own criteria.

This is a guide, not a lending decision. A lender may take account of your spending, credit commitments and individual circumstances before deciding what, if anything, it will offer.

Important notes

• This calculator gives an indicative figure only. It is not mortgage advice and it is not a guarantee that a lender will offer this amount.
• The income multiple is editable. The default is 4.5, which MoneyHelper describes as a usual cap, but lenders use their own criteria.
• Affordability checks can include expenditure, existing debts, credit commitments and individual circumstances.
• The repayment figures are based on the interest rates and term you enter. They do not include fees, insurance, moving costs or other costs linked to buying a home.
• The stress payment is included to show how repayments could look at the stress interest rate you enter. It is not a lender stress test.
• The calculator supports zero-interest repayment calculations, so a 0% rate can be tested without a division error.

For wider guidance, see the MoneyHelper mortgage affordability calculator.