Mortgage Affordability Calculators Explained
Mortgage lenders have traditionally looked at income multiples to decide how much to let you borrow.
All mortgage lenders now calculate how much that they will lend based pn affordability instead of income multiples like 4.5 times joint income or even 5 times single income.
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.
Your home may be repossessed if you do not keep up repayments on your mortgage
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 No Fee 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
