What you can afford
Before buying a property, you should decide how much you wish to spend on a property, and how much you can afford to spend on a property. The mortgage calculator and the monthly income and expenditure forms will help you decide.

How much can you afford to spend?
The first thing you should do if you are considering taking out a mortgage is to go and speak to some mortgage lenders and explain to them your current situation and see if they can help you. If you don't you might be dissapointed when you find a home and find out you either can't get a mortgage or can't borrow enough.

You can also go and see an independant financial advisor, who mostly offer free advice, and can offer any mortgage from any lender, often the best way to get a mortgage, as you can compare different mortgage packages directly, and the advisor will help find the right mortgage for you.

How much Can you Borrow?
As a rough guideline, you can borrow around 3 times your annual income before income tax. This calculator below will calculate this out for you. Simply enter the amount of your savings for a deposit, and you and you partners annual income (if any) to find out approximately how much you can borrow.

Amount of Savings
eg 5000

Applicant 1 Annual Income
eg 24000

Applicant 2 Annual Income
eg 14000
Amount you can borrow


Also remember, you'll also have legal fees to pay on top of the mortgage, moving fees, and possibily stamp duty. Some of these fees can be added ontop of you mortgage however, so you dont have to pay them immediatly.

How much can you afford every month?
By using the form below and entering you income and expenditure details you can work out roughly how much you have to spend every month, to see if you can afford to move house and apply for a mortgage

Monthly Income Your Monthly Income
Montly Home Expenses Mortgage
  Home Insurance
  Electricity
  Gas
  Water
  Council Tax
  Telephone
  Others
  Total
Monthly Expenses Food etc
  Clothes
  Going out
  Mobile Phone
  Travel/Car Expenses
  Sky/TV Licience
  Credit Cards
  Loan Payments
  Savings
  Life Insurance
  Total
Whats Left Total Income
  Total Home Expenses
  Total Monthly Expenses
  Total Left to Spend

Hopefully this section has helped you decide how much you can borrow and helped you work out how much money you have spare each month.

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