Do you want to take out a mortgage but not sure how much the monthly payment will be?
You can simply, easily and quickly use the mortgage calculator above to show you what it will likely be (It is simple enough to use).
Enter the purchase price (the cost of the house), enter the deposit you want to leave, the interest rate you have seen and the total number of years (the mortgage term) you want the mortgage for. Then select either the repayment or the interest only button.
You do not need to press any other button as the result will be displayed to you automatically.
You will see both the monthly repayment and the total amount you will pay for the total number of years (mortgage term) of the mortgage. This is a good way to work out what your payments will be for the fixed rate period of your mortgage.
 
Whether you want to remortgage or you are a first time buyer, our mortgage calculator is a great way to find out how much you can afford.
*** YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE OR ANY OTHER LOAN SECURED ON IT. ***
What is the amount that I can borrow?
If you are looking to get a mortgage in the UK, the amount that a lender can offer you is about 3 or 4.5 times your annual salary. If you are purchasing with someone else, then you will be looking at 5 times your joint income. Other factors like your credit score, the amount of deposit, if you have any unsecured loans and your credit history will affect the outcome.
Is there a limit to the deposit I can leave?
The minimum deposit amount you can leave is generally 10% of the value of the property you are trying to purchase. This means your mortgage amount is 90% (this amount is also known as loan to value – LTV). By leaving a larger deposit means the amount you will pay monthly will be less.
If you need any further advice or you are ready to go for it, then please do not hesitate to contact us by clicking the red ( Contact Us) button below.