We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

online calculators?

jellybean87_2
jellybean87_2 Posts: 47 Forumite
in Mortgages & endowments
How realistic are the quick online calculators for mortgages?

I've just done 3 and according to them we can get between £0- £67000.

Our current mortgage is £112,500. Would the fact we afford this make any difference to lenders?

Thanks
Make £5 a day in May £8.90 / 85

Comments

  • StuC75
    StuC75 Posts: 2,065 Forumite
    Whilst affordability is always important (More for you than the lender)..

    Your current mortgage is based upon what your circumstances were when you took out that mortgage..

    Current limits are based upon lenders current perspective on the market and current earnings & financial situation..

    Is there anything that has clearly changed since then...
  • ACG
    ACG Posts: 24,896 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    The online calculators are pretty accurate.

    No it wont make any difference, you need to pass the new lenders affordability model.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.9K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 246.9K Work, Benefits & Business
  • 603.5K Mortgages, Homes & Bills
  • 178.3K Life & Family
  • 261.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture