Introducing: Mortgage Calculators You Can Count On
21st March 2017
Note: We’ve continued to improve our service since this article was first published. View our latest mortgage calculators here.
The internet is full of mortgage calculators. Banks have them, comparison sites have them, and there are plenty of independent ones. They’re often clunky to use and many ask for unnecessary details that aren’t needed to indicate how much you could borrow; for example, how much interest you’ll be paying. As a result, we don’t think anyone’s really nailed calculators just yet.
Our calculators weren’t much better than what already existed, up until recently. We spoke with many of you about this, and it turned out that despite our best efforts, our calculators were still just too complicated and asked for too much information. With your comments noted, we set about building the most straightforward calculators possible.
After extensive development and testing we’re pleased to announce the following three new calculators:
Our affordability calculator is incredibly simple. Simply type in your salary and savings, and we’ll quickly work out how much you could afford to spend on a new home. We’ll even take solicitors fees and stamp duty into account so you don’t suffer any nasty surprises.
This calculator provides a very quick way of getting an initial sense of how much you could borrow, but you may want to see a more accurate figure if you’re particularly close to making an offer.
For this, simply spend a few more minutes telling us about your income, outgoings, and a few details about your preferences, and we’ll provide you with a downloadable Mortgage in Principle. This will provide the most accurate sense of how much you could borrow with no impact on your credit report. You can also use it to prove to estate agents that you’re a serious buyer.
Try the new affordability calculator
The affordability calculator is great if you’re just starting your search, but what if you already have a property in mind and simply want to know whether you can afford it?
Our new borrowing calculator will give you an idea of whether you can afford the home in less than a minute. Simply enter your income, savings, and the property cost.
Try the new borrowing calculator
One of the most common questions we’re asked is “Should I switch my mortgage now?” This isn’t always an easy question to answer, but our remortgage calculator is a good way of getting a quick indication, allowing you to quickly and easily check based on two simple questions.
You can also get a more accurate idea of which rates are available by answering a few more questions about your mortgage. We’ll show you the cheapest equivalent deal available, so you can compare for yourself.
Try the new remortgage calculator
We’ve also made a few changes to make your Trussle experience simpler, faster, and more intuitive to use. The new calculator pages are designed with a mobile first approach so they work even better on mobile than they used to. We’ve designed them with your feedback in mind, meaning that key information is available more easily than before, and we’ve included a little info button next to some of the terms you told us weren’t clear.