Mortgage Affordability Calculator
Halifax Mortgage Affordability Calculator Mortgage Affordability Calculator Explained
Mortgage affordability calculators are a new way for mortgage lenders to calculate how much you can borrow for a new mortgage. Mortgage lenders have traditionally looked at income multiples to decide
how much to let you borrow. Although now due to lifestyle, some borrowers
may be able to get a little more through Lenders that use mortgage affordability calculators.
There are approximately 25 lenders currently that lend on your ‘ability to pay’ instead of income multiples like 2 times joint income or even 3.5 times single income. But if, for example, you have a clean credit record, no children and two incomes, some lenders may be willing to lend a little more. Alliance & Leicester, Standard Life, Halifax, Norwich & Peterborough and Nationwide are among them.
Enhanced Affordability Calculators
Lenders are now prepared to offer you even more if you choose a five or ten-year fixed rate mortgage. This is because the monthly repayments stay the same for a long time, and so feel like less of a risk to the lender.
For more details on lenders that us mortgage affordability calculators please feel free to contact us and one of out advisors will contact you to discuss how much you could borrow with a lender that uses mortgage affordability calculators. If you wish to get an idea now on how much you could borrow using mortgage affordability instead of income multipliers please feel free to use the link above to the Halifax's and Nationwide's affordability calculators on their web site.
Mortgage affordability Advice
With so many mortgage lenders offering different mortgage amounts using their affordability calculators it can be quite confusing trying to work out how much you can borrow. Go Financial Services have access to many lenders who could help you get the mortgage amount you what. Simply complete our fee free mortgage advice from and a professional mortgage advisor will contact you to discuss your mortgage needs.
Try Go Direct's mortgage budget planer to calculate how much you can afford for your new mortgage
You may also be interested in:
- Best Mortgage Type
- Fee Free Mortgage Advice
- Mortgage Protection Insurance
- Best Mortgage Deals
- Online House Price Comparison
We normally do not charge a fee for mortgage advice, however a fee paying option is available. Our typical fee would be £500
REPAYMENTS ON YOUR MORTGAGE
Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.
Go Direct.co.uk is a trading style for website purposes of Go Direct UK Ltd. Go Financial Services is a trading style of Go Direct UK Ltd which is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Services Authority Registered in England & Wales Company 5703224.
We normally do not charge a fee for mortgage advice, however a fee paying option is available. Our typical fee would be £500
