Mortgage Calculator UK

Mortgage calculator UK

Our online mortgage calculator UK and mortgage tools have been created to help you get a better idea of what you can expect when applying for your mortgage. Using these can help to clear up some of the confusion around your mortgage application, making you better prepared.

Our mortgage tools and UK mortgage calculator

Working out how much you can afford to pay towards a mortgage should be a priority before beginning your application. Our tools and mortgage calculator for the UK have been designed to help you work out your borrowing situation before getting a mortgage. These can be especially useful if you’re a first time buyer and unsure what house price range you should be looking at. They can also be useful if you’re a home mover or looking to remortgage your current property.

Otherwise, you might be looking for a mortgage for a buy to let property or second home and need to work out how big a mortgage you need.

Mortgage Calculator UK

Quick calculator

Input your salary for a quick overview of what you could potentially borrow

How much can I borrow?

You might have never had a mortgage before, or your financial circumstances might have recently changed. In either case, you might be unsure how much you can borrow for a mortgage. Our tool can help work this out based on your salary, combining your partner’s salary if it’s a joint mortgage.

How much can I borrow for the mortgage?

Number of applicants


Applicant 1 Applicant 2
Annual Income
Other Income

Your Mortgage results

Based on your entered income and subject to lenders criteria and credit scoring,
you could be eligible to lend between £{{ mortgageResult.min | currency }} to £{{ mortgageResult.max | currency }}.

A mortgage of £{{ mortgageResult.max | currency }} at 2% over 25 years would cost you approximately £{{ monthlyPayments | currency }} per month.

Please complete annual income for both applicants.

How many times salary for mortgage in the UK?

Lenders may use various multipliers depending on their own preferences and whether someone is applying as an individual or part of a couple. Even in the latter scenario, you might find the lender takes the higher salary and multiplies that before adding the second income on top.

However, it is quite common to see multiples of between, three and three and a half times your salary, four and four and a half times’ your salary, even 5 times in some situations.

Mortgage Calculator

Complete a few details to get a better understanding of mortgage costs
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Remortgage Calculator

Get an instant indication of what your payments for a remortgage could be
Read More

Cost of living Calculator

Work out how much you currently spend each month
Read More

Mortgage calculator UK: How much can I borrow?

Mortgage calculators can help you work out your sums when you’re looking at how much money you may be able to borrow to buy a property.

It can also give a rough indication to what your monthly outgoing can be. However, these can alter depending on your circumstances, but it is a good starting point until a broker/lender has the full details.

You can add your income or salary and then play with different multipliers to see what the potential outcome could be.

Detailed Mortgage calculator UK

If you are looking for a more detailed mortgage calculator, which can give monthly payment costs, use our mortgage calculator which can give you an estimate of how much you can expect to pay based on how much you’re looking to borrow. This helps you to work our if you can comfortably afford these payments or if you need to make any cutbacks or changes to your lifestyle in order to afford your new home.

Wondering how much you could potentially borrow and how much a mortgage might cost you?*

Use our free interactive mortgage calculator UK form to tell you.

Our mortgage advisors will then speak to you in more detail for a free, no obligation mortgage quote.

What can affect my eligibility for a mortgage in the UK?

There are many factors that can determine how much you can borrow, such as income and existing loans and financial commitments.

Mortgage lenders have their own set of lending criteria, and each lender can be different. This means that if one lender rejects you, another might not. However, it’s best not to make too many applications at the same time.

That’s why it’s usually best to go through a mortgage advisor, such as Clever Mortgages who can assess your situation and then know which lender to apply to.

Generally, a lender will be looking at:

  • The amount you want to borrow
  • How much deposit you have
  • The type of property you want to buy (certain properties such as flats above cafes and bars are deemed riskier to lenders)
  • Your employment status
  • Your credit rating
  • Your affordability
  • If you have had any pay day loans
  • Missed or late payments

What is stamp duty?

Stamp duty land tax – known in Scotland as land and buildings transaction tax – is a tax payment you have to pay when you buy a property or plot of land which costs more than a certain amount. The amount of stamp duty you pay depends on the type and price of property. It also varies when you buy a commercial building rather than a residential property.

  • No stamp duty tax on the value of the property up to £125,000 (Currently the price is capped at £250,000 until Oct 2021 then it reverts back to £150,000) See here for more details
  • 2% stamp duty on the property value between £125,001 and £245,000
  • 5% on the property value above £250,000

Getting a mortgage with poor credit

If you have a poor credit history then you might struggle to get approval for a mortgage from certain mortgage lenders. As a specialist mortgage lender, we will still consider your mortgage application based on your affordability, regardless of your financial history.

The main difference with a bad credit mortgage is that your interest rate might be higher, so you might want to factor this in when using our tools. To get a better idea of what interest rates you’re eligible for, you can speak to one of our mortgage advisers for help and advice.

Low credit score

What to do next

Speak to a broker

Arrange a callback with one of our expert mortgage brokers who can analise your situation and advise of the best way forward at a time thats convienient for you. Alternatively, use the live chat in the bottom corner.

Complete our form

Complete our mortgage form. Although its not a mortgage application, and will not affect your credit score, it will give you a good indication of what you can borrow and afford, as well as giving our brokers a bit more information about you.

*Mortgage borrowing is intended to be a guide based on the amount of deposit entered and your income details.  A mortgage adviser will fully assess your requirements before making a mortgage recommendation.