Answer some simple questions in 3 minutes. It’s super easy - have a go!
Our tech will get to work and provide an indication of how much each lender could offer.
Our mortgage brokers don’t charge fees. Discuss your results with them and plan your next steps.
In a nutshell? Mortgage lenders have different attitudes to risk and therefore have different criteria when assessing how much they’re willing to lend to you.
In the past, mortgage lenders based the amount you could borrow on a multiple of your income. This is no longer the case and that’s why simple calculators that only use an income multiple are not very accurate.
Now, lenders must also assess what level of monthly payments you can afford, after taking into account various personal and living expenses as well as your income. This is called an affordability assessment. The way lenders do this assessment changes from lender to lender.
Our tech assesses the main high-street lenders’ affordability criteria so that you can find out, in one go, how much each lender could lend to you.
Keep in mind that affordability is only one part of a lender’s underwriting process and they will look at a number of criteria (e.g. your property, credit history) to determine whether they’re willing to lend to you. To help find the most suitable mortgage options for you, get in touch with one of our dedicated mortgage brokers.
Alex and Fatima
Alex and Fatima found it really difficult to work out how much they could borrow to buy their first property as Alex is a limited company director and Fatima has a car loan.
Manoj and Laxmi
By using the Universal Mortgage Calculator, Manoj and Laxmi found that they could borrow more than they initially thought, allowing them to buy closer to where they both work.
Zoe and Sam
Zoe and Sam were able to understand how their two children and the associated childcare costs impacted the amount they could potentially borrow. With the extra lending they could receive, they were able to get a property with two separate rooms for the kids.