Mortgage Affordability Calculator

Tips on using our affordability calculator

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:

i.	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.
ii.	Credit card: If balance paid in full each month then zero to be entered If balance not cleared then minimum 5% of outstanding balance to be entered
iii.	Other mortgages: This refers to other mortgages (Consumer buy to let, holiday home or investment property loans) that will continue following the drawdown of the new mortgage We require this repayment to be stress tested as follows:
		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

	Example The current repayment is worked out as follows: £100,000 over 20 years at a rate of 3% = £560.14 The stressed repayment is worked out as follows (using the same example): £100,000 over 20 years at a stressed rate of 6% (i.e. 3% + 3%) = £726.54
iv.	Co-ownership Housing rental repayment: Please add the Co-Ownership Housing monthly rental repayment in the relevant section under ‘Credit Commitments’.

Press 'Calculate'

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.

Criteria met

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

Note

Please include Child Benefit as “Additional Income” in the remuneration section.
Only include a home insurance value for 2^nd (or other) properties.
The print function for this calculator is not compatible with Internet Explorer browsers (including Edge). As you are required to submit a printed copy of the calculation along with an application, please ensure that you are using this calculator on a browser other than Internet Explorer.
Maximum LTV for new customers is 85% (applicable to fixed and discount variable rate products).
90% LTV is available for first time buyers only
95% LTV tier is available to existing customers only.

Intermediary Affordability Calculator

Applicants Name(s)*:	Please enter applicants name(s)
About The Property
Mortgage Amount*:	Please enter a Mortgage Amount
Property Value / Purchase Price*:	Please enter a Property Value / Purchase Price
Mortgage Term*:	Please enter a mortgage term
Product Type*:	Please Select Self-Build DSVR 2 Year 2 Year Fixed 5 Year Fixed Green 5 Year Fixed Green 2 Year DSVR Please Select Please Select Please select a product type
Number of Applicants*:	Please Select 1 2 Please Select Please Select Please select number of applicants
Financial Dependants
	Applicant 1	Applicant 2
Number of Dependants*:	Applicant 1 Please Select 0 1 2 3 4 5 6 7 8 9 10+ Please Select Please Select Please select number of Dependants	Applicant 2 Please Select 0 1 2 3 4 5 6 7 8 9 10+ Please Select Please Select Please select number of dependants
Remuneration
Net Monthly Income (after all deductions)*:	Applicant 1 Value must be greater than zero	Applicant 2 Value must be greater than zero
Guaranteed Additional Net Monthly Income:	Applicant 1	Applicant 2
Rental Income (70% of value recorded is included in our calculation):	Applicant 1	Applicant 2
Total
Other Essential Outgoings
Childcare Costs / School Fees:
General Home Insurance Premiums - Other Properties:
Rates:
Maintenance:
Other:
Total
Credit Commitments
Credit Card:
Loans:
HP Payments:
Other Mortgages:
Co-Ownership Rental Repayment:
Total

Essential Spend	0.00
Discretionary Spend	0.00
Co-Ownership Rental Inflation	0.00
LTV	0.00
Surplus Amount	0.00
Stress Repayment Amount	0.00
Net Disposable Income	0.00
Required Surplus	0.00

Affordability Result

Important information

This calculation is for illustrative purposes only and is subject to a full credit assessment. It should not be considered as a mortgage offer and is valid at time of calculation only. Please submit the printed calculation with your application form.