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How much can I borrow?

Use our free "how much can I borrow mortgage calculator" to estimate the amount you could borrow on a mortgage. The actual amount varies from lender to lender.

You could borrow between and
Your income (Gross per annum)
£
Your partner's income (Gross per annum)
£

For many people there is a dilemma how much they can borrow if they will decide to get a loan or a credit. Of course, the most accurate answer for such question would be given by getting quotes from different lenders. However, this would require time for filling various information tables and would require to give out a personal information even if the person is not sure whether he actually needs a loan. Thus, a simpler way is to use various calculators on the Internet to have an approximate view of how much it can be borrowed. This helps to know better what could be expected before getting proposals from various lenders and also can be treated as a guide for the person's financial future planning. Though the exact amount of money can differ depending on a loan provider.

Principle of calculator

It can be pointed out that how much can I borrow calculator relies on two basic inputs: the person's personal gross income per annum and his life partner's gross income per annum. It makes sense as usually family uses both of partners money together, thus this gives a higher probability that the debt will be repaid or that a higher level of debt can be borrowed to the person as his family's income is greater.

The person's gross income per annum impact

How much can I borrow calculator uses an assumption that the person can borrow from 3 to 4.25 times greater amount of money than his gross annual income. Let's take an example where the person's gross annual income is £15,000. In such case the calculator gives an answer that the person can borrow from £15,000*3=£45,000 to £15,000*4,25=£63,750. Of course the amount of money that can be borrowed usually differs from lender to lender. However, the purpose of how much can I borrow calculator is only to reflect what can be the expected amount of money that can be borrowed and the actual size of loan will differ from lender to lender.

The person's partner's gross income per annum impact

How much can I borrow calculator evaluates that the impact of the partner's income should be the same. Thus, every £1 in partner's income increases the amount of money that can be borrowed from £3 to £4.25. Let's take an example where the person's gross annual income is £15,000 and his partner's gross annual income is £12,000. In such case the total gross annual income of the family is £27,000. How much can I borrow calculator estimates that this family could borrow from £27,000*3=£81,000 to £27,000*4,25=£114,750. It is important to remember that these calculations are only a guide that reflects what could be expected if the person would want to borrow money from various financial institutions.