Affordability calculators are useful in helping you understand what you may be able to borrow. But if you're serious about buying, it's best to speak to an expert like the brokers Mojo Mortgages, who can:
Conduct a full affordability and eligibility assessment to tell you how much you could borrow and what your mortgage repayments may look like
Provide a mortgage in principle which outlines your property buying budget
Answer any questions you may have about the mortgage process - for free!
Our mortgage calculator makes it easy to estimate how much you could borrow when applying for a mortgage.
Enter a few details such as:
Who’s applying (just you, or you and someone else)
Your annual income
Any guaranteed bonuses or overtime
Outstanding debts (credit cards, loans, overdrafts)
Number of children under 18
How much you’ve saved for a deposit
We'll then estimate how much you could borrow, typically by multiplying your income up to five times. You'll also get an idea of the maximum property price you could afford.
Our mortgage calculator gives you a quick estimate of how much you might be able to borrow. We base our calculations on a similar approach to lenders, but keep in mind that lenders will also look closely at:
Your credit score - a higher score could help you access lower mortgage rates
Your existing debts
Your regular outgoings (such as utilities, broadband, and groceries)
Your lifestyle spending (like holidays and entertainment)
During the mortgage application process, you’ll also need to provide supporting documents, such as bank statements and payslips.
Once you have an idea of your maximum borrowing amount, it’s crucial to check whether the monthly repayments would be affordable for you. Our mortgage calculator can help with this too - allowing you to see how much you could borrow based on what you’re comfortable paying each month, not just on your income.
Before approving your application, lenders will scrutinise your finances to see if you can afford a mortgage. They will look at whether anyone depends on you financially and whether you are in permanent full-time employment. Self-employed workers may have more limited mortgage choices because their income often varies.
As well as assessing whether you could afford a mortgage now, lenders will also stress test your finances to check whether you would still be able to afford your mortgage if interest rates increased.
Once you know how much you could borrow, your next step is to compare mortgages. Using a mortgage broker like our partner, Mojo Mortgages, can help you compare mortgage deals across a wide range of lenders.
You'll be able to choose from fixed-rate mortgages – where the interest rate and your repayments remain the same for the term of the deal, which is typically two, three or five years. Alternatively, you can choose a variable-rate mortgage that normally tracks the Bank of England base rate. The tracker element means that your monthly repayments go up or down in line with movements in the base rate.
If the estimated borrowing amount shown on our mortgage affordability calculator isn’t enough for the property you want, consider:
Saving a bigger deposit: For example, if you can only borrow 80% of the price, a 20% deposit would bridge the gap.
Finding a guarantor: If you can’t save enough, some mortgages let you apply with a guarantor instead of a deposit. If you miss your mortgage payments, your guarantor has to cover them.
Talking to a broker: Some lenders could give you a bigger mortgage than others, and mortgage brokers like Mojo Mortgages can work out which ones are most likely to lend you more. Contact a broker for advice on how to get accepted.
Last updated: 28 December, 2025