Affordability Calculator

The affordability calculator works out how much you might be able to afford to pay back on your mortgage based on your income and outgoings. It is for illustrative purposes only and doesn't provide all the information you need to choose a mortgage.

What to expect

Only takes 5 minutes

A quick but detailed check based on your income and outgoings to see how much you could potentially borrow.
Valid for 30 days

At the end you can request a Decision in Principle (DIP). You can do this within 30 days of receiving your calculation.
Soft credit check

We will carry out a 'soft' credit check. These checks won't affect your credit score now, or in the future.

What you'll need

Your income:

If you are employed – your annual basic income along with any additional income (for example bonus payments, overtime, benefit/maintenance)
If you are a sole trader/partnership – your latest 2 years' net profit/share of profit figures*
If you are a director of a Limited company - your latest 2 years' dividends and remuneration/salary*
If you are a daily rate contractor earning £50,000 or more – your daily rate x 5 x 48.
If you are a daily rate contractor earning less than £50,000 we'll use your latest payslip/invoice.

*If the net profit, dividend and remuneration for the most recent year are higher than the previous year, then an average of the two years' must be taken. If the most recent year is lower than the previous year then the most recent year's figures must be used.

Your outgoings:

Any personal loans
Any credit cards/store cards (we use 3% of the current balance as the monthly outgoing)
Existing mortgage payments (for any mortgages that will remain in place once this proposed mortgage completes)
Nursery/Child care costs
Student loan payments.
Ground Rent/Service Charge.

What happens next

We'll use the information you provide to check if you're able to afford a mortgage.

If we find that you could afford the mortgage we will then run a soft credit check. Where we assess it is not affordable, your application may be declined.

You could lose your home if you don’t keep up your mortgage repayments.

Affordability check