Online mortgage calculators?

willing2learn_3

Hi there!

Does anyone know if there are any resources out there that people can use to assess their ability to get mortgages.....I have apointments with two mortgage advisors coming up, but in the past i've never fully understood how they arrive at their decisions....I know the system tells them but it would be helpful to have a rough idea how to work these things out for myself. Gives me a chance to think through options during the weekend.

If anyone knows of anything it would really be appreciated. I will try googling it now, but would still be great to hear from anyone with experience on this. :-)

Thrugelmir

Lenders have their own matrix to determine affordability and the risk profile that they apply. There's no hard and fast rules.

dimbo61

A couple of lenders have mortgage calculators to show how much they would lend when you put in your income

willing2learn_3

Thanks

it's just that my intuition never seems to be the same as their calculations - so i'm way off - so just wanted to get a rough idea....

I've found a few calculators so will have a play and maybe i'll get a better idea of things from that.

Thanks again!

kingstreet

Use the Abbey and Halifax affordability calculators and play down all your answers so you get a reasonable figure, not one which will depend on your employer guaranteeing your overtime and bonus and is reliant on your car allowance being accepted in full.

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=GSInformacion&canal=CABBEYCOM&cid=1210618119200&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FGSInformacion%2FWC_ACOM_MortgageAffordCalc

http://www.halifax.co.uk/mortgages/forms/minicalc/container.asp