UK Mortgage Affordability Calculator
Find out how much you can borrow, estimate your monthly repayments at today's rates, and see which UK regions fit your budget — completely free, no sign-up required. Rates sourced from the Bank of England and updated monthly.
Your Details
Enter your income and deposit above to see your mortgage affordability.
Frequently Asked Questions
How much can I borrow for a mortgage in the UK?
Most UK lenders will lend up to 4–4.5 times your gross annual income (or joint income for a couple). Our calculator uses the standard 4.5× multiplier used by most high street lenders. Some specialist lenders may offer up to 5.5× income, typically for higher earners or certain professions.
How is my monthly mortgage repayment calculated?
Monthly repayments are calculated using the standard annuity (capital repayment) formula: M = P × r(1+r)ⁿ / ((1+r)ⁿ–1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments. The rate used is the current best-buy 2yr fixed 75% LTV rate from BoE data.
What is the mortgage stress test?
The FCA requires lenders to check affordability at the mortgage rate plus 3%. Our calculator shows what your payments would be at this stressed rate, giving you a conservative affordability view. Note: the FCA removed the mandatory stress-test rule in 2022, but most lenders still apply their own internal stress checks.
Do I have to pay stamp duty as a first-time buyer?
First-time buyers in England and Northern Ireland pay no Stamp Duty Land Tax (SDLT) on properties up to £425,000, and a reduced 5% on the portion between £425,000 and £625,000. No relief applies above £625,000. Scotland and Wales have their own land taxes (LBTT and LTT) with different thresholds — all three are shown in our calculator based on your selected region.