Conquer FS - Mortgage Services Ltd

Affordability Calculator

This is one of the most difficult questions to answer. In the olden days lenders where pretty much uniformed and they would lend depending on salary and it was very easy to work out. Nowadays it is a lot more difficult to predict as they all use different formulas depending on your personal circumstances. Most lenders work on a credit-scoring basis, which determines how much you can borrow.

Single person, no dependents, no personal loans or credit cards.
Basic income £20,000
Regular overtime £2,000
Regular Bonus £2,000
TOTAL INCOME £24,000 per Ann.

Lender 1. £70,000
Lender 2. £77,000
Lender 3. £84,000
Lender 4. £94,950
Lender 5. £109,552

The most important thing to remember when taking on a mortgage commitment is to ensure that the monthly repayments are affordable. Please remember that this is a long term commitment, allow for interest rates increases and changes to your personal circumstances, as well as other outgoings including council tax, utility bills, insurances etc.

As you can see to get an accurate affordability calculator you have to get proper independent mortgage advice and no one can do this for you without speaking with you to gather all the relevant facts. Contact us for details
Things that affect the Application

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Registered in Scotland No. 265558     Registered Office: 90 Victoria Rd, Paisley, PA2 9PT

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