Mortgage Affordability Calculators

In assessing the maximum loan amount a client can have each lender has some type of affordability calculator. This looks at the different types of income, the age of the client, term of the mortgage, outgoings and dependents. How much of the income used can be found on the criteria of the lender, some use 100% but others such as state benefits can be reduced to 50%.

Each lender will have a different view on the clients they are trying to attract and therefore it is not unusual to get a different maximum loan from various different lenders. We will look at Abbey for Intermediaries, Halifax for intermediaries, Platform home loans, Coventry/Godiva, The mortgage Works, Woolwich/Barclays, Virgin Money, Natwest, Nationwide, Skipton, Birmingham Midshires and the Newbury – to name a few.