Our mortgage affordability calculator assists you with deciding the amount you can borrow in relation to your pay. It has to be noted, joint borrowers are likely to receive higher loans due to the combined income being more than single borrowers. Please use our mortgage calculator for a more accurate figure. In any case, mortgage affordability is affected by a variety of factors. These include your credit history, monthly outgoings, deposit and it varies from lender to lender. Our mortgage borrowing calculator will estimate how much you may be able to borrow. However, you must ensure that you can afford the monthly repayments not only now, but in the future. For more information, contact our team for free mortgage advice. They can go over your situation with you and give you a more accurate estimate of your mortgage loan eligibility.

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Next see how much you can borrow & the deals you qualify for

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An interest-only mortgage is a loan that requires monthly payments solely for the interest on the principal borrowed for a set period at a fixed interest rate. The interest-only period is typically between seven and ten years long, with such a total mortgage term of 30 years. After the early phase, an interest-only loan commences amortizing, and you focus on paying principal and interest at an adjustable interest rate for the rest of the repayment period. 

An interest-only mortgage payment calculator quantifies your monthly mortgage payment relying on your interest-only loan term, interest rate, and loan amount. The outcome is your estimated interest-only mortgage payment for the interest-only period, that does not include the principal payments you will need to make later with a different arrangement. 

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Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1.5%, but a typical fee is 0.3% of the amount borrowed.

Expert Mortgage Brokers is a trading name of LQ Property and finance ltd, which is authorized and regulated by the Financial Conduct Authority. Expert Mortgage Brokers, FCA- 758816. Registered Office: 162 Goodmayes lane, Ilford, Essex, IG3 9PR, London. Registered in England (10344069). Tel Number: +44 (0)207 183 1119
Expert Mortgage Brokers is a credit broker and not a lender. We source finance from a whole panel of lenders.
Please note that commission may vary dependent on the lender.

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