Mortgage loan calculator

There’s little point in speaking to a mortgage broker until you’ve found a property you want to buy and have specifics on how much you need to borrow; formally applying for a mortgage can wait until you have your offer on a property accepted first.

If in the meanwhile you need to find out what the costs of your borrowing could amount to on a monthly basis you could use a mortgage loan calculator tool; mortgage loan calculators ask you to key in your personal details, and give you a fairly accurate picture of how much you'll be able to borrow and what your monthly repayments will be.

Most people are allowed to borrow around 3.25 times their gross annual income, and some lenders will allow you to borrow up to four or five times this depending on various factors such as your occupation, level of income, potential future income, and the percentage of your fixed monthly outgoings against your income when the new mortgage is factored into this.