Maximum Mortgage Loan Calculator

Use the calculator below to compare the maximum mortgage loans that may be available to you through different types of lenders, these calculators can only be a rough guide as all lenders use a different affordability model and it is increasingly linked to your credit score which also varies with every lender.

For an accurate figure of the total loan size that may be available to you please call for advice on 0845 4594490

Understanding the Maximum Loan Calculator

Different mortgage lenders will have different attitudes to risk, and this will be reflected in the maximum loans they may offer. As a general rule of thumb most small building societies will be the most cautious and tend to use a pure multiple of your income such as 2.75 times joint income or perhaps 3.5 times the main salary and 1 times the lesser salary.

On the other hand larger building societies and the high street banks tend to be less cautious and several lenders will still go up to 5 times joint salary in their maximum loan or even above 5 times salary for those on high incomes.

However the larger lenders increasingly use more complex and sophisticated systems for assessing maximum loans. These include incorporating credit scoring into the loan size offered, taking into account factors such as council tax and even looking at the number of financial dependents you have as if these were a financial commitment just like a loan payment.

You will notice if you play around with this calculator that there are several side effects of these differences, for example borrowers with relatively low incomes and several children may in fact find small building societies offer them the highest loan. Also if you switch credit card debt to a personal loan payment it may increase your maximum loan simply because many lenders use a notional percentage for credit card payments rather than the actual monthly payment you are making.