Free tool
Mortgage calculator
Work out your monthly mortgage payments, how much you might be able to borrow, and the total interest over the term.
How lenders decide how much you can borrow
Most lenders lend up to around 4 to 4.5 times household income, and some more for higher earners or certain professions. They also look at your outgoings, credit history, deposit and the property itself.
Important information
Your home may be repossessed if you do not keep up repayments on your mortgage.
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Q&A
Questions & answers
How are mortgage repayments calculated?
For a repayment mortgage, each monthly payment covers that month's interest plus some of the loan, so the debt is cleared by the end of the term. With interest only you pay just the interest and repay the loan at the end.
Does a bigger deposit get a better rate?
Usually. Rates often improve at each 5 percent step in loan to value, especially below 75 and 60 percent.
Your first meeting is free
Talk to an independent financial adviser in St Albans. Call 01727 223251 or send us a message.