Habito

UK mortgage calculator

Thinking about buying a home, and want to know what kind of place you can afford? We've got your back. Use this mortgage calculator to get an idea of what you could borrow, and what sort of property price to start looking at.

Enter your details

New mortgage: find your first mortgage, or an additional mortgage for another property.

Remortgage: see if you can get a better rate, or borrow more, on a mortgage you already have.

What are you looking for?

What's your income?

If you’re applying with someone else, include theirs too. This means all types of income you get in a year: from bonuses, to overtime, to rental income.

£

How much is your deposit?

The amount you have saved for a deposit.

£

Fixed rate: your interest rate (which affects what you pay each month) is guaranteed over a fixed period of time, and won't change.

Variable rate: your interest rate could go up or down, so what you pay each month could change. During the initial period, you get a discount on your variable rate.

Rate type

For the first few years of your mortgage, you'll get a lower than standard interest rate. Think of it like an introductory offer from your lender. You can set how long this lasts here.

Mortgage term

The total length of your loan - how many years you'll take to pay back your mortgage.

years

Looking for a buy-to-let mortgage?

Try our buy-to-let calculator

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Habito is the largest, most-trusted online mortgage broker in the UK

We’ve helped over 180,000 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.

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What's next?

1

See what you're eligible for

Want a more personalised estimate? Just create an account and in 15 minutes we’ll show you what your mortgage could really look like.

Find out what you can borrow
2

Talk to a mortgage advisor

We’ll match you with an advisor who’ll give you tailored advice, help you kick-start your application, and answer any questions you’ve got.

3

Let us do the hard work

No need for meetings, appointments, long phone calls or paperwork. We’ll handle your application and update you every step of the way.

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How this mortgage calculator works

  • The maximum amount you could borrow based on your income alone.
  • The maximum property value you could afford. We take the amount you could borrow, and add your deposit. Be aware that this is limited by your deposit – because you need a deposit of at least 5% (more on that below).

The single biggest factor affecting how much you can borrow isn’t your deposit – it’s your income.

Lenders usually want a minimum 5% deposit. After that, your deposit won’t affect how much you can borrow, but it does open up cheaper interest rates for you.

That might be something to do with your deposit. Lenders will typically only lend you up to 95% of your property’s value, and ask you for a 5% deposit.

That means you’ll only be able to afford a property 20 times the value of the deposit you have. (That’s the maths we do to figure out your maximum property value from the deposit you’ve entered.)

Try increasing the deposit you’ve added in the calculator and see what happens to the numbers.

The single biggest factor affecting how much you can borrow is your income.

You usually need a minimum deposit of 5%, but after that a bigger deposit won’t affect the amount you can borrow (though it can get you deals with better interest rates).

By ‘income’ we don’t just mean your salary, we mean every type of income you get over the year, added together: your salary, bonuses, overtime, investments, company net profit, rental income from other properties, everything.

If that changes year on year, a rough average from over the last 2 years is OK, if you just want a rough check of how much you can borrow.

Remember that what mortgage you can afford isn't just about how much lenders will lend you. Think about the other expenses of running a home, and any big plans that could affect your ability to repay your mortgage (like having kids or a wedding) to make sure you’re borrowing responsibly.

Still house hunting?

The next step is to get a mortgage in principle – a certificate showing how much you can borrow – to show estate agents you’re a serious buyer.

Create an account to get a mortgage in principle for free with Habito.

Or read more about mortgages in principle in our jargon-free guide.