Understanding how much you can borrow is one of the most important tasks when it comes to you looking for a mortgage. Sometimes, you just have no idea where to start.
Most mortgage borrowing calculators work by providing you a lending range by multiplying your salary by a number (usually 4.5 to 5 times) but ours is different. It will calculate your potentially borrowing based on your affordability, which is effected by variables such as your mortgage term, outgoings (loans and credit cards) and other fixed costs in the same way lenders do.
Please note, lenders borrowing amounts can vary significantly so to narrow down your budget, please feel free to contact one of the team at ME and we would be happy to help.
Our mortgage repayment calculator will help you understand how much your mortgage will cost. If you have a budget in mind, you can change the term of the loan to suit. Now that’s helpful!