Question 1

How accurate is the affordability calculator?

Accepted Answer

The figure is an indicative guide based on a typical income multiple and the assumptions you enter. Lenders take a much more detailed view, including your monthly outgoings, credit commitments, dependants, credit profile and the property itself. Treat the result as a useful starting point, not a guaranteed offer of borrowing.

Question 2

What does a lender actually look at when assessing affordability?

Accepted Answer

Lenders typically assess your gross income, the structure of that income, regular financial commitments, expenditure, dependants, credit history and how the proposed mortgage payment fits into your wider budget. They also stress-test the payment at a higher rate to make sure it remains affordable if rates rise.

Question 3

Can first-time buyers borrow more than other applicants?

Accepted Answer

In some cases yes. Some lenders offer enhanced affordability for first-time buyers, with maximum income multiples that can reach around 5.5 to 6 times income, subject to strict criteria. These products often require a longer initial fixed rate and stronger overall affordability. They are not available to everyone and the lender's full assessment still applies.

Question 4

Are there special mortgage options for certain professions?

Accepted Answer

Yes. Some lenders have professional product ranges aimed at specific occupations, including teachers, key workers, NHS staff, doctors, dentists, qualified accountants, solicitors and members of the armed forces. Benefits can include enhanced income multiples, recognition of expected career progression or higher loan-to-value limits. Eligibility, criteria and availability vary by lender and change over time, so professional product access should always be checked against your specific circumstances.

Question 5

Does my deposit affect how much I can borrow?

Accepted Answer

Yes. A larger deposit reduces the loan-to-value, which can unlock better rates and, in some cases, more generous affordability with certain lenders. It also reduces the total amount borrowed, which lowers monthly payments at any given rate.

Question 6

How do credit commitments and dependants affect affordability?

Accepted Answer

Loans, credit card balances, car finance and other regular commitments reduce the income lenders consider available for a mortgage. Dependants such as children also reduce assessed disposable income because lenders apply estimated household costs. Reducing or clearing short-term credit before applying can sometimes improve the borrowing figure.

Question 7

Will all my income count?

Accepted Answer

Most lenders use 100 percent of basic salary. Treatment of overtime, bonus, commission, second jobs, self-employed income, rental income, pension income and benefits varies significantly between lenders. Choosing the right lender for the way you actually earn often makes a meaningful difference to the figure.

Question 8

Is the calculator regulated mortgage advice?

Accepted Answer

No. The calculator provides an illustrative figure only and does not constitute a personal recommendation or a lending decision. For tailored advice based on your full circumstances, please get in touch.

Mortgage Affordability Calculator

Mortgage affordability calculator

Affordability questions, answered

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Ves Doctorov Cert SMP