Mortgage Affordability Calculator Query

hiyaimtel

Hello

I have been using various mortgage affordability calculators online to get a rough idea how much it would be possible to borrow.

One of the common questions is “Your next monthly credit card payment” - I just wanted a bit of clarity on the following:

- Is the total amount I owe on my credit cards at this time
- Or the total minimum payments added together
- Or how much I am actually paying each month towards the credit cards

Just a bit of clarity would be great so I can make sure I have a clear idea of what properties are in my reach.

Thanks 🙂

[Deleted User]

Usually lenders will take 3% of your balances.
Most calculators I use ask for total balance rather than payments, and if they ask for payment then I'm expected to have looked up and converted using the lenders calculation. 

If you want a (usually) more accurate calculator just Google the lenders name and stick 'for intermediaries' after it.   That will get you to our calculators

hiyaimtel

@Deleted_User Thanks for your help! That’s perfect 🙂

Sensory

Using cashback/reward credit cards for all spending and paying off balances in full every month, I put £0 into all calculators, as did my broker. Anything higher would be an inaccurate reflection of affordability.