Affordability Calculator
Discover how much you could borrow and what your maximum property budget might be. Factor in your income, deposit, and existing commitments.
Your Finances
Loans, credit cards, car finance, etc.
Lenders typically offer 4-4.5x your income, but this can vary based on credit score and circumstances.
Understanding Affordability
Income Multipliers: Lenders typically offer between 4 and 5.5 times your annual income. The exact multiplier depends on your credit history, employment type, and existing financial commitments.
Debt-to-Income Ratio: Lenders will look at your existing monthly debt payments (loans, credit cards, car finance) when assessing how much you can borrow. High existing debt may reduce the amount you can borrow.
The 28% Rule: As a general guideline, your monthly mortgage payment should not exceed 28% of your gross monthly income.
Joint Applications: When applying with a partner, lenders will consider your combined income. This can significantly increase your borrowing capacity.
This calculator provides estimates based on standard industry multiples. Your actual borrowing capacity will depend on the lender's specific criteria and your individual circumstances.