Free calculator
Home Affordability Calculator | UK
Home Affordability Calculator is designed to help you estimate borrowing costs, compare repayment scenarios, and sense-check property finance decisions. It works best when you want a fast, comparable estimate before you speak to a lender, provider, adviser, employer, or supplier. Use it as a planning tool rather than a final quote. This version is framed for United Kingdom users where regional assumptions matter, so you can test a few scenarios and see how changes in the main inputs affect the outcome.
Interpretation
What your result means
Use the notes below to understand the main figures in your result and when this calculator is most useful.
When to use this calculator
- Before comparing lenders, brokers, or repayment options.
- When you want to test how a different deposit, rate, or term changes affordability.
- When you need a quick estimate before using a formal quote or agreement in principle.
Result
Use this metric to compare scenarios side by side and understand how the key drivers affect the final outcome.
Next steps
What to do next
Continue with the most relevant next step based on your result.
Example
A realistic UK planning example
A realistic example to help you understand how the numbers fit together.
Annual Household Income (£)
£35,000
Monthly Debt Payments (£)
300
Deposit Available (£)
£50,000
Mortgage Interest Rate (%)
£200,000
After entering these figures, focus on result first and then rerun the tool with a more cautious assumption.
Avoid mistakes
Common mistakes
A few things that often lead to misleading or incomplete results.
FAQ
Frequently asked questions
Helpful answers to common questions about this calculator.
How much can I borrow for a mortgage in the UK?
UK lenders typically offer 4 to 4.5 times your annual household income, though some may stretch to 5-6 times for higher earners. Your existing debts and credit score also affect the maximum amount.
How much deposit do I need for a UK mortgage?
Most UK mortgages require a minimum 5-10% deposit, though a 15-20% deposit secures better interest rates. Government schemes like Help to Buy and shared ownership can reduce the deposit needed.
What percentage of income should go towards housing costs?
Financial advisers typically recommend spending no more than 28-35% of your gross monthly income on mortgage payments. Lenders also assess your overall debt-to-income ratio.
Does my student loan affect how much I can borrow?
Yes, UK mortgage lenders factor student loan repayments into their affordability calculations. The monthly repayment reduces the amount they are willing to lend, even though it is not a traditional debt.
What other costs should I budget for when buying a home?
Beyond the deposit, budget for stamp duty, solicitor fees (£1,000-2,000), survey costs (£250-600), mortgage arrangement fees, removal costs, and an emergency fund for unexpected repairs.
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