How much could you borrow?

Calculate how much you can borrow in the UK with our simple mortgage calculator. Calculate your monthly mortgage repayments to work out how much you could afford to borrow when moving house, remortgaging, or buying your first home.

How much can I borrow?
Mortgage repayment calculator

You may have to pay an early repayment charge if you remortgage.

Your home could be repossessed if you don't keep up repayments on your mortgage.

This calculator is only an estimate of how much you may be able to borrow. Talk to a mortgage broker or lender to get a more accurate figure.

You could borrow up to

Loan to value (LTV):00%
Including your deposit, you could afford a house price up to£000,000
Other fees you may have to pay:
Broker fee(free with Trussle)
Additional fees(learn more)

Next steps

If you're ready to get a mortgage, the next step is to answer a few more questions. Then a Trussle adviser will find our best mortgage deal for you.

You may have to pay an early repayment charge if you remortgage.

Your home could be repossessed if you don't keep up repayments on your mortgage.

This calculator is only an estimate of how much you may be able to borrow. Talk to a mortgage broker or lender to get a more accurate figure.

How much can I borrow for my mortgage?

You can usually borrow around 4 to 5 times your salary.

Some lenders offer up to 6 times your salary, but they will be very strict about who they lend this amount to. Lenders also have different rules and the income multiple they allow can depend on many things.

They include:

  • salary and source of income

  • using a government homeownership scheme

  • extra benefits (for example, Barclays offer Premier customers slightly higher income multiples)

  • deposit size

  • financial commitments and bills

  • age

  • length of mortgage

  • leasehold costs

Read our reviews of UK mortgage lenders to find out how much each lender may lend you.

What mortgage repayment can I afford?

Mortgage calculators are an excellent way of finding out how much you might be able to borrow. However, calculators can only make an estimate: they do not take everything into account. As such, it's crucial you understand what factors the online mortgage calculator you are using considers.

Each mortgage calculator is different, but basic online mortgage calculators will usually look at:

  • how many people are paying the mortgage

  • salaries

  • secondary income

  • mortgage type

  • mortgage length

  • interest rate

Most mortgage calculators do not look at:

  • monthly expenses

  • credit score

  • costs of getting a mortgage

  • interest rate changes

  • life changes such as losing your job

Unlike calculators, most lenders look at every issue that could affect your repayments. You might also need to pass a lender’s ‘stress test’ before they’ll give you a mortgage. This is to make sure you’ll be able to pay your mortgage if something happens that affects your repayments.

This could include:

  • losing your job

  • having a baby

  • being ill

  • a change in interest rates

To pass the stress test, lenders will look at your salary and other types of income such as pensions and investments. Lenders also look at your credit history to see what type of borrower you are. This is called a credit check. It could be a hard or soft credit check, depending on their rules. Learn the difference and how to improve your credit score in our credit score guide.

Should I borrow the maximum mortgage i can afford?

When a lender offers you a mortgage, they’ve decided how much they’ll lend you based on:

  • your salary

  • secondary sources of income, such as investments

  • how much you can afford to pay

To decide how much you can afford to pay, a lender must consider a range of risk-based factors, such as a rise in interest rates or potential loss of employment.

Even if a lender thinks you can afford the full amount they’re offering, you should decide how much is right for you.

Some people do borrow as much as they can in order to get their dream property. Others, on the other hand, may prefer to borrow less and take on less risk. This is ultimately down to personal preferences and attitudes to risk.

Think about what’s best for you. Remember, you might lose your home if you do not keep paying your mortgage.

How much do most people borrow?

According to Trussle's data, most people who get a mortgage to buy a property borrow between 2 and 4 times their income.

Generally, the average loan-to-income (LTI) ratio is higher in the south of the country where houses are more expensive.

How much can I borrow with bad credit?

Even if you’ve got a poor credit score now the amount you can borrow still depends on your personal situation.

A lender looks at your credit history to see how well you’ve managed debt before. This is known as a credit check.

If you have bad credit history some lenders may:

  • turn you down for a mortgage

  • ask for a bigger deposit

  • offer you a higher interest rate

Whether your credit history will affect your mortgage application depends on:

  • what the credit problem is 

  • the amount 

  • when it happened

Missing a mortgage payment or going bankrupt are two scenarios that can stay on your credit report for six years. Missing payment on a loan is clearly more serious than missing a utility bill payment, for example, and as such can harm your credit score more severely.

It’s possible to explain to a lender how you got into debt, however.

For example, if your finances are normally well-managed, but your debt is a result of a life event such as divorce, a lender might not view your debt as seriously.

You should always speak to a mortgage broker to find out how your situation could affect how much mortgage you can borrow.

If you're concerned about your credit score, our bad credit mortgage guide tells you all need to know about how to secure a mortgage.

How much can I borrow with no deposit?

It is possible to get a mortgage with no deposit.

However, most lenders require a deposit of at least 5% of the purchase price.

100% mortgages are usually linked to a relative’s or friend’s savings account. 

Lenders who offer 100% mortgages include:

  • Barclays

  • Lloyds

  • Tipton & Coseley Building Society

With Lloyd’s Lend a Hand Mortgage, instead of putting down a deposit, a family member puts 10% of the purchase price into a 3-year fixed-term savings account.

At the end of the 3 years, your family member will get their savings back with interest if you made all your payments.

The home is still yours. Your family member has no legal rights to it.¹

Government homeownership schemes could help you buy a home.

Find the right homeownership scheme for you using our tool.

Or learn more in our government homeownership scheme guide.

Types of mortgage calculators

Most basic mortgage calculators are affordability calculators, including our mortgage calculator.

They tell you how much you may be able to borrow with a mortgage.

You’re usually asked for:

  • salary

  • salary of anyone you’re buying with

  • deposit amount

The mortgage affordability calculator then works out how much you could borrow. It might also work out your monthly repayments.

A repayment calculator tells you how much your mortgage repayments could be each month.

It’s based on:

  • the amount you’re borrowing

  • how long you take your mortgage out for

  • the interest rate

  • fees

Overpayment calculators show you how much you could save if you make extra payments.

Making extra payments means you’ll pay off your mortgage quicker. Your mortgage will be cheaper in the long run as you’ll pay less interest.

Extra payments could be:

  • a lump sum, such as an inheritance

  • regular extra monthly payments, such as a salary increase

Not all mortgages let you make overpayments, so check with your broker or lender.

Stamp duty is a land tax. It’s often the second biggest cost of buying a home after your mortgage.

How much you pay depends on how much you pay for your home and where it is.

A stamp duty calculator works it out for you.

Stamp duty in England and Northern Ireland

You have to pay stamp duty on residential properties that cost more than £125,000. 

There are different rules if you’re a first time buyer. If the purchase price is £500,000 or less you’ll pay:

  • nothing on the first £300,000

  • 5% on the rest up to £500,000

If the purchase price is more than £500,000 you pay the normal amount of stamp duty.

Stamp duty in Scotland

You do not pay stamp duty on the first £145,000 of the purchase price of your home.

First time buyers do not pay it on the first £175,000.

Stamp duty in Wales

You do not pay stamp duty on the first £180,000 of the purchase price of your home. 

There’s no discount for first time buyers.

Learn more in our stamp duty calculator guide.

A remortgage calculator lets you know if you can save money by remortgaging. Either with your current lender or a new one.

There could be a better deal you could switch to and lower your current monthly repayments.

Work out how much you could save with a new mortgage deal using our remortgage calculator.

You’ll need to know:

  • how much your home is worth

  • how much you still owe on your mortgage

  • current monthly repayments

  • how long your mortgage is for

An interest only mortgage is one when you only pay the interest in your monthly repayments. This means they can be quite low.

You also need to have a plan in place to pay the loan at the end of your mortgage. For example selling your home, an endowment or investments.

An interest only mortgage calculator works out how much your monthly mortgage repayments would be if you only paid the interest.

To use one, you need to know:

  • the interest rate

  • how long the mortgage is for

  • how much the mortgage is

A buy to let mortgage calculator works out how much you might be able to borrow based on your rental income.

Some buy to let calculators also tell you the expected monthly income from a buy to let property.

You’ll need to know your rental income and how much the property is worth to use one.

See our buy to let mortgage guide.

A help to buy mortgage calculator tells you how much you’ll need to borrow if you take out this government scheme.

You’ll need to put in your deposit, the purchase price and whether you live in England, Wales or Scotland.

It’ll then tell you what your Help to Buy loan would be, as well as your remaining mortgage.

Then work out what your monthly repayments might be using a normal mortgage calculator.

A commercial mortgage is a loan secured on property that you do not live in.

Businesses use them to buy a property. Or to release money from a building they already have to invest into the business. 

To use a commercial mortgage calculator, you’ll often need the following information:

  • purchase price

  • mortgage amount

  • annual interest rate

  • lender arrangement fee

  • how long the mortgage will last

It’ll then work out:

  • your monthly mortgage payments

  • the arrangement fee

  • how much it will cost you if the mortgage runs to its end

An offset mortgage is when you link your mortgage to your current and saving accounts with the same lender.

Your total savings are taken off the amount of mortgage you pay interest on.

To use an offset mortgage calculator you’ll need to know the following:

  • property value

  • mortgage amount

  • how long the mortgage will be for

  • average current account balance

  • monthly savings

  • average savings interest rate

  • lump sums

  • tax band

The calculator will work out how much you could reduce the interest you pay or how long you pay your mortgage for.

When you buy a shared ownership home, you buy between 25% and 75% of its value and pay rent on the rest.

A shared ownership mortgage calculator lets you know how much you could borrow. As well as how much rent you’ll have to pay on the rest of the property.

You need to put in:

  • your salary

  • your outgoings

  • length of mortgage

  • deposit

Where to go from here

Get a free Mortgage in Principle (MIP)

Get your MIP and start viewing homes

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Discover more about mortgages

Check out our mortgage guide

Mortgages explained

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