What Mortgage Can I Afford Calculator?

Calculate Your Mortgage Qualification Based on Income

In this calculator you can inclue investments, annuities, alimony, government benefit payments in the other income sources. Be sure to select the correct frequency for your payments to calculate the correct annual income.

  • daily: 365 times per year
  • weekly: 52 times per year
  • biweekly: 26 times per year
  • semi-monthly: 24 times per year
  • monthly: 12 times per year
  • bimonthly: 6 times per year
  • quarterly: 4 times per year
  • semi-annually: 2 times per year
  • annually: 1 time per year

This calculator defaults to presuming a single income earner. If your household has 2 income earners then you can expand the "spouse or partner" section to enter their income information. We calculate the mortgage qualification ranges using the following maths:

Your Mortgage Qualification Low End High End
Single Income Earner 3X annual income 4.5X annual income
Two Income Earners 3X higher + 1X lower earner 3X both incomes

* If one earner makes the vast majority of the income to where the two income limit is lower than the single income limit, we will return the single income limit below. We compare both low end and high end limits for each scenario and then publish whichever option is higher for each.

Your Income Amount Frequency
Regular Salary
Additional Income
Any Other Income
Your Outstanding Debts
Your Deposit
Spouse or Partner on Joint Application?
Partner Income Amount Frequency
Regular Salary
Additional Income
Any Other Income
Partner Outstanding Debts
Your Total Salary Monthly Annually
Your Salary
Partner Salary
Combined Salary
Your Mortgage Qualification Low End High End
Mortgage Amount w No Debts
Mortgage Amount With Debts
Deposit Amount
Home Price Limit

General Guideline: 3X to 4.5X Annual Income

Lenders typically like to see borrowers put at least 5% down on their property. When borrowers put down less than 5% they are typically charged a significantly higher interest rate to offset the additional risk the lender is taking.

Borrowers can typically borrow from 3 to 4.5 times their annual income. Lenders may allow borrowers to borrow up to 5 times their annual income, though regulatory restrictions prohibit lenders from having more than 15% of their loans above 4.5 times annual income.

How Are Joint Applications Treated?

For joint applicants the limit is typically slightly lower with them either offering a full multiple on the first income and then adding in the second income, or lowering the multiplier across all incomes down to 3. Examples are shown in the table below.

Income 1 Income 2 Multiple Loan Limit
£30,000 £0 4.5X £225,000
£30,000 £20,000 3X both £150,000
£30,000 £20,000 3X 1st + 2nd £110,000

The reason why limits are lower for joint incomes is it is more likely someone will either get laid off or want to voluntarily quit to start a family or go back to school.

How Much Can I Borrow? Detailed Considerations

Lenders presume borrowers spend about 3% to 5% of their outstanding debts on servicing costs. In our above calculation for individuals we subtract £3 for each £1 of debt for individuals and £2.4 for each £1 of debt for couples with multiple income providers.

In addition to your income level, lenders consider recent financial troubles, missed payments, and general living expenses when they determine suitability and lending limits.

Money Advice Service offers an affordability calculator which takes into account your outgoings. In general lenders do not like more than 60% of a person's income going toward their mortgage and monthly outgoings. Nationwide also offers a similar calcualator, though it has quite a few steps in it and collects some personal data like your birthday.

Cleaning Up Your Creidt Profile

Down Payments

Most borrowers typically put at least 10% down on a property. Help to Buy schemes can help people with lower incomes and limited savings qualify for mortgages.

Estimate Your Monthly Mortgage Payments

In addition to using the above affordability calculator, you may want to check out our monthly mortgage repayment calculator to estimate your monthly payments for various loan scenarios.

The following calculator automatically updates payment amounts whenever you change any loan input, so if you adjust the interest rate, amount borrowed or loan term you will automatically see the new monthly fixed-rate and interest-only repayments.

Mortgage Calculator UK
Home Price - £
Down Payment - £
Mortgage Amount - £
Interest Rate - %
Term - Years

Full Monthly Payment


Interest Only




Total Interest Payable


Total Loan Payments


Total Cost


We also offer a calculator with amortisation schedules for changing loan rates, so you can see your initial loan repayments and figure out how they might change if interest rates rise.

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