How Much Can I Borrow for a Mortgage in the UK?
Two tests set your borrowing limit: a multiple of your income and a payment check at a higher rate. A worked £60,000 example shows which one bites, and why.
Mortgage advisers toolkit
The calculators a mortgage conversation keeps coming back to: what the payment is, what overpaying saves, what a buyer can borrow and what the purchase costs on top.
7 calculators in this toolkit
- Mortgage Repayment CalculatorThe monthly payment and full schedule for any rate and term.
- UK Mortgage Affordability CalculatorAn illustrative borrowing range from income, deposit and commitments.
- Stamp Duty Calculator for England & Northern IrelandThe SDLT bill on a residential purchase, band by band.
- Mortgage Calculator with Extra PaymentsHow much interest and time a regular overpayment saves.
- 15 vs 30 Year Mortgage CalculatorThe cost of a short term against a long one, side by side.
- Biweekly Mortgage CalculatorTwenty-six half-payments a year against a monthly schedule.
- Rent vs Buy CalculatorWhether buying beats renting over the years a client plans to stay.
Guides
Is It Better to Rent or Buy? How to Work Out Your Answer
Renting or buying depends mostly on how long you stay. A worked £250,000 example shows which costs you never get back and the point where buying pulls ahead.
How Is Stamp Duty Calculated for First-Time Buyers?
First-time buyers pay no stamp duty up to £300,000 and 5% on the slice up to £500,000 — then lose the relief entirely. The bands, the cliff edge and worked examples.
How Is a Mortgage Repayment Calculated?
The amortisation formula behind every repayment mortgage, worked through for a £200,000 loan — and why the balance barely moves in the first few years.