Our mortgage borrowing calculator will give you an estimate of how much mortgage you can get, although this will vary greatly from lender to lender. Enter your income details below and hit the 'Calculate' button.

If you are looking to borrow money to purchase a property, we strongly advise that you speak to our mortgage advisers to find a mortgage that matches your own situation.

Mortgage loan calculator
First applicant

First mortgage applicant

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Second applicant

Second mortgage applicant

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Result

As a guide, you could potentially borrow around:

 

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© 2020 Charcol

Mortgage loan calculator provided by John Charcol

This is not a quotation under the Consumer Credit Act. Figures are subject to validation of income, credit checks and a property valuation.

The 'How much can I borrow' mortgage calculator is a great way to start – but it’s certainly not a definitive answer – and if it’s not the answer you’re looking for, our experts can review your full situation and advise on the most appropriate course of action, including products you might not previously have considered.

Mortgage Eligibility: How Much Can I Borrow?

If we could all borrow as much as we liked, we’d all live in mansions and penthouses. Sadly that’s not the case, so in order to establish how much you can borrow, your mortgage lender will take the following into consideration.

Deposit

Your deposit is the amount you have to put down to secure your property. Normally at least a 10% deposit is required to secure a mortgage however, there are specialist first time buyer mortgage providers who will lend to buyers with a 5% deposit.

Age

The older you are, the less time you have to pay off your mortgage and this means your monthly repayments will be higher on a repayment mortgage.

How much you earn

It stands to reason that lenders will be more willing to let you borrow a greater amount of money if you have more disposable income. If you’re buying with a partner or even a friend, your joint income and expenditure will be taken into consideration. 

Spending

If you go on shopping sprees on a regular basis, you’ll want to curb that habit in advance of applying for a mortgage. If a mortgage lender sees that you have high expenditure and high debt they will be less willing to let you borrow as much money as you may want.

Credit Rating

Your ability to borrow any money is subject to a good credit rating. Lots of things can affect your credit rating such as credit card repayments and timely bill payments so it’s a good idea to keep on top of everything well in advance of applying for your mortgage. If you’re not sure what your credit rating is, you can check using websites such as Experian or Equifax.

Being on the electoral roll

Your mortgage lender can ascertain some information about you if you are or have been registered to vote. So, being on the electoral roll is looked upon favourably by lenders.

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