Check out our Mortgage Borrowing Calculator
It’s all very well searching for the right home at the right price, but when you find it, you must be able to pay for it! It is essential that you work out exactly how much you are eligible to borrow given your exact financial position, as there are always elements that are easily overlooked.
At the Mortgage Advice Center we think it’s paramount that our customers know exactly what they’re letting themselves in for when they are looking for a mortgage. This involves every aspect of your finances including income, what your outgoings are, if you are paying off any other loans – a whole host of things that must be considered but are often not taken into account until the last minute.
So this is why we have not included a mortgage borrowing calculator on our site. Finding out exactly what you can borrow is not as simple as typing a number into a field on an online mortgage borrowing calculator, and pressing ‘GO’! If anything, this is misleading and inaccurate as those all-important considerations are conveniently left out.
We firmly believe that the only mortgage borrowing calculator that can accurately calculate a sum that you personally can borrow for your mortgage needs, including all the associated costs, is a qualified mortgage professional.
Only a mortgage broker can arrange an agreement with a lender in principal, and this is effectively the first hurdle, as once you know a lender will lend to you, all that’s left is simply a case of finalising the amount. Remember, it’s important to avoid getting yourself into a debt you can’t handle. Your home may be repossessed if you can’t keep up with the repayments. So don’t be misled into planning your future based on an online mortgage borrowing calculator.
By simply filling out the form in the panel on the right, an Independent Financial Advisor will contact you and you can get cracking on finding out how much you can actually borrow and get you a mortgage based specifically on your financial circumstances.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
There may be a fee for Mortgage advice. The precise amount will depend upon your circumstances but we estimate that it will be £300