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Money & business · Free online tool
Mortgage affordability calculator
Estimate a headline mortgage loan, affordable property price and monthly payment from your income and deposit. Turn income, deposit, debts, term and an editable income multiplier into a transparent planning figure before speaking to a lender.
3 guest runs per rolling 24 hours10 with a free accountPrivate inputsMobile-friendly
Mortgage affordability calculator workspace
Runs locally in your browser
This is a transparent planning estimate, not a lender decision or mortgage offer.
Result
Headline loan—
Property price with deposit—
Monthly payment—
Total interest—
Important context
Use it with confidence
How to use the mortgage affordability calculator.
Calculate and review
Use the main action when needed. Headline loan = annual income × multiplier − annual other commitments. The monthly payment uses the standard fixed-rate repayment formula over the entered term.
Try a worked example
£40,000 income at a 4.5× multiplier with £20,000 deposit suggests a headline property budget around £200,000 before lender stress tests.
Check the assumptions
Lenders apply affordability stress tests, credit, deposit and property criteria that can change the amount substantially. This is a planning estimate, not an offer or advice.
A clearer answer
How much mortgage could I afford?
Enter income, deposit, term, interest rate and other monthly commitments. The calculator applies an editable income multiplier and the standard repayment formula to show a headline loan, property budget, monthly payment and total interest.
See the useful decision, not only one number.
It makes the multiplier and debt assumptions visible instead of hiding them in a black box. Lenders still apply their own stress tests, credit, deposit and property criteria.
Worked example: £40,000 income with £20,000 deposit
At a 4.5× multiplier with £250 monthly commitments, the headline loan is about £177,000, suggesting a property budget around £197,000 with the deposit. At 5% over 25 years the monthly repayment is about £1,035.
Method: Headline loan = income × multiplier − annual other commitments. Monthly payment = P × r(1+r)^n ÷ ((1+r)^n − 1).
Common mistakes to avoid.
- Treating a multiplier as a lender promise
- Ignoring stress-test interest rates
- Forgetting deposit, fees and moving costs
- Borrowing before checking other monthly commitments
Use the result with the right assumptions.
Use this as a first-pass planning figure. A broker or lender will assess income type, credit, dependants, spending, property value and the lender’s affordability rules.
Helpful answers
Mortgage affordability calculator FAQs.
Is the mortgage affordability calculator free?
Yes. Guests receive 3 runs per rolling 24 hours, verified free accounts receive 10, and Premium subscribers receive unlimited normal use.
Does UtilHub upload or save my inputs?
No. This tool runs in your browser and UtilHub does not receive or store the values you enter. Your browser or device may still retain normal local history or form data.
How does this mortgage affordability calculator work?
Headline loan = annual income × multiplier − annual other commitments. The monthly payment uses the standard fixed-rate repayment formula over the entered term.
What should I check before using the result?
Lenders apply affordability stress tests, credit, deposit and property criteria that can change the amount substantially. This is a planning estimate, not an offer or advice.
What income multiplier do UK lenders use?
Many lenders start around 4–4.5× annual gross income, but the actual amount depends on income type, credit, dependants, commitments, stress-test rates and the property. The multiplier here is editable for that reason.
Does the result include stamp duty and fees?
No. The calculator covers the loan and deposit only. Budget separately for stamp duty, legal fees, surveys, moving costs and any required insurance.