Mortgage Borrowing Calculator
How much can I borrow?
Most mortgage lenders use an income multiple of 4-4.5 times your annual income to work out how much they'll lend. Use our calculator to get an estimate of how much you could borrow based on your income and deposit.
Maximum Borrowing
£0
Warning: Your required mortgage exceeds your maximum borrowing capacity
Loan to Value (LTV)
96.0%
High LTV - Limited mortgage options available
Deposit Percentage
4.0%
Low deposit - Limited mortgage options
Required Mortgage
£240,000
Monthly payment: £0.00
How is this calculated?
The mortgage borrowing calculation takes into account:
- Your annual income (typically 4-4.5x multiple)
- Your monthly financial commitments
- Your deposit amount
- The property value (to calculate LTV)
Note: This is an estimate only. The actual amount you can borrow will depend on the lender's criteria, your credit history, and other factors.
Maximum Borrowing: The highest amount a lender would typically offer based on your income and commitments.
Required Mortgage: The actual amount you need to borrow to purchase the property (property value minus deposit).
If your Required Mortgage exceeds your Maximum Borrowing, you'll need to either:
- Increase your deposit
- Look for a cheaper property
- Improve your borrowing capacity (e.g., increase income or reduce commitments)