Calculating exactly how much you can borrow depends on a number of things, such as:
- How much you spend each month on regular commitments
- Whether you’re paid a basic salary, a basic salary plus bonus, commission or overtime
- If you’re self employed
- The amount of deposit you have
- Your age and whether you are looking to borrow beyond your retirement date
One of the most important factors in determining how much you can borrow is the lender. Each lender has different criteria and the brokers at our partners Mortgage Advice Bureau, who last year successfully placed mortgages with 59 different lenders, are perfectly placed to match the right lender to your borrowing requirements.
Sometimes it can be possible to borrow more than this calculator shows you and that’s where Mortgage Advice Bureau’s expertise comes in. They are sometimes able to arrange higher borrowing by taking your own individual circumstances into account.
All potential borrowing is subject to affordability checks and credit status.
