Fill in applicant's name
It may seem like an obvious step but it is very important. This calculator will need to be printed or saved as a PDF and sent to us as part of the application form so it’s important that the applicant’s name is included.
Mortgage and affordability details
Fill out all of the mortgage details (Loan amount, term, etc.) and the affordability details (Dependants, remuneration, other essentials outgoings, etc.)
Keep the following in mind when completing the calculator to ensure that all the details are captured correctly:
General Home Insurance Premiums - Other Properties:
This refers to those with multiple properties and not for the applicant’s new home. If you have additional properties please input the total insurance payment for your additional properties here.
|Product||Stress Rate +|
|Capital & Interest contracts||3% above current rate|
|Interest Only (I/O contract is for duration of Proposed Mortgage)||3% above current rate on Interest only basis|
|Interest Only (I/O matures pre-expiry date of this Proposed Mortgage)||3% above current rate and on a Capital & Interest basis|
|iv.||Co-ownership Housing rental repayment: Please add the Co-Ownership Housing monthly rental repayment in the relevant section under ‘Credit Commitments’.|
This will calculate affordability based on your inputs and will let you know whether your applicant(s) has met our minimum criteria. The results will be either:
- Criteria met – based on your inputs our affordability criteria has been met. You should proceed to completing the application form
- Criteria not met – unfortunately, based on your inputs our affordability criteria has not been met. You should review your inputs to ensure that the information entered is correct. You should not submit the application. Alternatively, please contact our dedicated broker underwriters on 028 9047 9100 should you wish to discuss the case further.
If the mortgage has met our affordability criteria you should take the following steps:
- Print or save the affordability calculation
- Proceed to completing our application form along with your broker/customer declaration form
- Include the printed affordability calculator pdf when submitting the application form. For more details on how to submit an application form, click here