Mortigo

mortgage calculator

use our mortgage calculator tool

Buying a home can be a complicated process. It doesn’t need to be, so let’s keep it simple. Start with our mortgage calculator which helps you to understand what your future monthly mortgage payments might look like.

how much can i borrow?

monthly repayment calculator

Generally speaking, in the United Kingdom, you can borrow between 4.5 and 5.5 times your income. This will depend on your level of income and personal circumstances.
Want a quick estimate? Use our mortgage calculator tool.

LTV means loan-to-value ratio. This is the size of the loan weighed up against the value of the property you’re trying to purchase. In most cases you will need a minimum of a 5% deposit to secure the mortgage, meaning you’ll need a 95% mortgage loan – this is often referred to as a 95% LTV mortgage.

If you’re able to save more for your deposit (let’s say 10-20% instead of 5%), you’ll have a greater array of options on your table. You’ll discover more affordable mortgage deals with lower interest rates – it’s the ideal scenario. If you’re a first-time buyer you may not have such savings, but if you’re remortgaging or moving house, you could be in a position to get more amicable mortgage solutions.

The quickest way to understand your potential is to get in touch with our experts.

First and foremost, your credit score has an impact on having your mortgage agreed in principle. Your credit score affects the interest rates that you are eligible for and what deposit may be required. It is important to have a clear picture of your credit score, therefore it is essential you use a tried and trusted reputable company. This will help you in securing your agreement in principle and subsequent mortgage.

Don’t get lost in the lingo, have a chat with us about it today.

Everyone wants to know what’s the most they could get. Sure, a mortgage calculator tool such as the one on this page would give you an idea. However, for more accuracy it’s best to apply for an agreement in principle. It’s not a formal offer, it’s a theoretical figure that will encourage estate agents to take your offer more seriously.

Just so you know, an AIP is sometimes known as a Decision in Principle or a Mortgage In Principle. They are the same thing and arrive in the form of a written estimate or statement from the lender. The aim of the AIP is to give you a clearer idea of how much you could afford to borrow. It empowers you to browse properties with a more definitive idea of your price range.

Want to get started with the AIP process? Let’s talk.

You may be required to pay an early repayment charge if you remortgage. Your home is at risk of repossession if you do not keep up with the repayments on your mortgage. Our calculator is only an estimate of how much you may be able to borrow. We recommend talking with one of our qualified mortgage brokers to get a more accurate figure.