How big a mortgage can I get?

28th March 2020

What size mortgage can I afford?

When you apply for a mortgage, there are lots of different cost involved. These not only include the deposit, solicitors fees, surveys, etc, but also the ongoing repayment of the mortgage itself! Therefore it is important to know what you can afford to pay back over time.

Why do I need to worry about my repayments?

A specialist mortgage adviser can help you calculate what you can afford to repay. They will look at your income and expenses, as well as if interest rates go up or if you were to experience a change in personal circumstances. These could include having a baby, experience long-term sickness, taking a sabbatical or career break, being made redundant or taking early retirement. At the end of the day, whatever happens, we want to keep you safe and sound!

You can use our mortgage repayment calculator to get a rough estimate of what your monthly repayments would be.

How much can I borrow?

Mortgage lenders used to calculate how much you could borrow by multiplying your income. For example by three, four or five times, to determine the size of mortgage you’d be eligible for. Since 2014, mortgage lenders cap your ‘loan-to-income’ ratio to ensure you can afford the monthly repayments after taking account of your monthly income and outgoings. If your mortgage lender suspects you might struggle to meet your mortgage repayments, the size of mortgage you may be offered could be reduced, which could, in turn, affect your ability to secure the new home you’ve been looking for.

Use our mortgage calculator to estimate how much you could borrow!

The best way to determine what size mortgage you can afford is to talk to a specialist mortgage adviser with the expertise and independence to guide you through the maze of mortgage products and lenders that are best suited to your circumstances. Call us on 08454 500200 or click here to make an enquiry about your new mortgage.


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Had the pleasure of working with gavin torpey for the past 4 years of sorting out my mortgage and getting where I am now,his dedication and personal one on one experience in the industry ,is second to none ,that's why I keep coming back to him ,as I no i always get first class service, and leave it in his capable hands.

Dan W

October 2020

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