Mortgage Calculator - UK

Find out how much you could borrow. Our calculator searches the whole
market in seconds to find you a real mortgage based on your circumstances.

Why Habito?

Habito is the largest and most-trusted online mortgage broker in the UK. We’ve helped over 100,000 people on the way to financing their home. Our powerful algorithm sorts through 20,000 mortgages from more than 90 lenders to find the perfect one for you. We combine this with top-tier mortgage expertise to deliver the most personalised, fast and convenient way to get a mortgage today.
FCA authorised
Trusted by over 100,000
No surprise credit checks
Completely free
What happens next?

About you
This should take around 15 minutes and you can complete this at any time.
Have a chat
A quick live-chat with our mortgage experts will allow us to get a personalised quote to you.
We handle it
We take care of all lender communication and will keep you updated every step of the way.
FAQs

Habito searches more than 20,000 products from over 90 lenders to find the right one just for you, and we have a team of industry-leading mortgage experts ready to answer all your questions. And now we’re taking on another element of home loans that could do with a serious revamp: the mortgage calculator. You know the sort of thing – you plug in a few details and the machine spits out a guesstimate of how much you can borrow and your monthly repayments.

Which is all well and good, except that most standard mortgage calculators are pretty useless. They don’t gather enough information to provide a realistic borrowing amount, they don’t show you actual loan products, and they don’t scan the whole of the mortgage market. In other words, they’re more ballpark than bespoke.

When it comes to making what is likely the biggest financial decision in your life, ballpark numbers aren’t good enough. So we’ve built the most accurate and only real-time mortgage calculator in the UK that does a lot more than just multiply your income.

Whether you’re looking to secure a new mortgage or save on a remortgage, Habito's Mortgage Calculator searches the whole market, providing you with a borrowing amount that’s more realistic.

Even our jazzy calculator can’t give you a final decision on your eligibility for a loan – that’s where our friendly human experts come in. They can guide you all the way from sign-up to completion – and all for free.

If you want a few pointers, here are some basic rules for a successful mortgage application. Firstly, you’ll need a solid, consistent and provable income. Secondly, you’ll need a good credit history – issues such as CCJs, IVAs, bankruptcies and loan defaults will all affect your chances. Thirdly, you’ll need to show evidence of your deposit and how you got it. Finally, lenders will want to know about any existing debt commitments you might have, such as a student loan or personal loan. There are three main forms of documents you’ll need to provide: proof of identity, proof of address, and proof of income.

The problem with many mortgage calculators is exactly that – they’re just basic calculators that don’t take into account any external factors beyond how much you earn each year. They don’t factor in significant one-off payments associated with house-buying such as stamp duty and fees, which typically have to come from your savings. As a result, the loan amount you end up finally getting approved for can be wildly different from the amount the mortgage calculator outputs – which is worse than useless.

Habito’s Mortgage Calculator is different as it takes into account the extra costs that other calculators conveniently ignore. After entering a few simple details about yourself and your financial situation, you’ll receive a reliable, real-time, whole-of-market estimate of how much you can realistically expect to borrow, and from whom, so you can get on with the fun part of finding your dream home.

When you’re searching for a house, one of the key things you need to know is how much you can afford – your maximum loan amount. After all, it’s a waste of time drooling over 10-bed mansions if your budget’s only going to run to a two-bed maisonette. That’s why Habito's Mortgage Calculator is such a brilliant place to start your search. It gives a proper, in-depth estimate of your borrowing power.

As a general rule of thumb, if you have a decent deposit to put down (say 10% of the property price) and your income is consistent and well-documented, you should be able to borrow 4.5 - 5.5 times your gross annual salary. Your annual income is the driving force behind your ability to keep up repayments – that’s why lenders need to see proof of income before approving any mortgage. If you’re self-employed, this is usually copies of your tax returns and associated tax year overview for at least the last two years. But remember that they’ll also want to assess your outgoings and outstanding debt before giving the green light to your loan.

The maximum loan amount is what you could theoretically borrow, but remember that there are lots of other expenses involved with buying a home, so it’s just as important to ask yourself what you should borrow so you can stay on track financially in the future. Lenders will conduct an affordability assessment that takes into account your income, your outgoings, and any potential ‘big life events’ that may affect your ability to repay (such as having kids), but it’s also worth conducting your own DIY assessment to make sure you’re borrowing responsibly.

Habito’s Mortgage Calculator can help with this: by taking into account factors such as stamp duty and fees, it will give you a more informed idea about what repayments you can realistically manage. And if you decide you’ll be busting your budget by becoming a home-buyer, you can always choose to carry on saving a little longer before making the mortgage leap.

The short answer is, yes! Sticking with the same lender after your fixed term introductory offer ends (usually two years) means you’ll be switched to the lender’s standard variable rate, which can cost thousands of pounds every year in extra, unnecessary mortgage fees – what we call the ‘mortgage loyalty penalty’. But the good news is that remortgaging with Habito is as simple as switching your energy, mobile or broadband provider, only with much bigger returns.

Simply choose the ‘remortgage’ option on our mortgage calculator and it’ll magically turn into a remortgage calculator – we’ll search for the best real-time remortgage deals on the market. Fast, free and fair. Already a Habito customer? When it’s time to remortgage, we’ll automatically alert you and help you switch quickly and easily, so you can be sure you’ll never pay more than you have to.

Buy-to-let mortgages are designed specifically for the purchase of rental property, which means they’re subject to different regulations compared to regular residential mortgages and are usually interest-only. In other words, they’re a little bit more complicated. Don’t worry, though, we have access to a huge range of lenders offering buy-to-let mortgages – we’ll just need to ask you a few extra questions so we can advise you appropriately and accurately. Of course, that doesn’t stop you making use of our free mortgage calculator in the meantime to get a realistic estimate of how much you’ll be able to borrow to get your new renting project up and running.

Yes, you can use our mortgage calculator as normal, but you’ll just need to adjust the figures to tally with your chosen scheme. The government’s Help to Buy schemes are a brilliant way to help people on to the property ladder, but they do still require you to take out a mortgage to cover part of the purchase price. Which is where Habito comes in – we have access to a wide number of lenders who support these schemes.

The best place to start with Help to Buy and Shared Ownership is the official website, where you can find out about all the options in the area you’re planning to live. Then, when you sign up to Habito, you just have to follow the instructions on the dashboard and let one of our mortgage experts know that you're looking to use one of the Help to Buy schemes. We can then tailor the mortgage to suit your individual circumstances – and you can start planning what colour to paint the walls!