People buying their first home often have specific needs when it comes to finding a mortgage. A range of mortgages exists specifically for this market sector.
A mortgage is likely to be the single largest financial commitment you ever make. There's a wide range of mortgage products out there, with varying interest rates and repayment options available.
Mortgage Borrowing Calculator
Your Salary (Gross p.a.)
Partner's Salary (Gross p.a.)
This calculator uses the following assumptions.
Maximum borrowing is a multiple of between 2.50 and 5.00 times total income less annualised outgoings. Lenders will only lend up to 95% loan to value (LTV).
This is intended as an indicative guide only. It is a generic calculation that does not take into account the individuals circumstances, it should not therefore be relied on.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Remortgaging means switching your mortgage to another deal with another lender without moving property.
These types of mortgages are designed for property investors and private landlords, who do not intend to live in the purchased property but will let property to tenants.
These are mortgages suited to people building a new home. With a self build mortgage, money is released in stages as the build progresses.