MORTGAGE AFFORDABILITY CALCULATOR
What size mortgage loan can you afford?
Enter/amend figures in each field.  Press tab for next field.

Enter the total mortgage payments you think can afford each month £: £ per month
Enter the total payment term in years:
Note that mortgage normally ends on retirement		 years
Enter likely largest annual interest rate % pa over the next few years: % p.a.
Single income multiple: x annual income
Joint income multiple: x joint income

Approximate maximum mortgage loan (repayment or interest-only + savings) possible with the above conditions:

 advance
Approximate gross annual single income typically required to qualify for the above loan: per annum
Approximate gross annual joint income typically required to qualify for the loan: per annum
Note: The loan is assumed to be a fixed multiple (usually 3.5) of single income or of joint
income (usually 2.75). Some lenders apply these simple multiples, but others
apply an "affordability" test where the maximum loan depends
on personal outgoings, children etc.

Re-designed by Michael Kelly for "Mortgages Exposed" 9 Aug 2005