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Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.
Your Results:
You could borrow up to
Most lenders would consider letting you borrow
This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.
Some lenders would consider letting you borrow
This is based on 4.75 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.
A minority of lenders would consider letting you borrow
This is based on 5.5 times your household income, a salary multiple you will struggle to get without a broker. 5.5 times salary mortgages are usually only available under very specific circumstances.
Get Started with an expert broker to find out exactly how much you could borrow.
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Securing a mortgage within a budget of £800 to £900 per month can open the doors to your dream home. Understanding what mortgage you can get for £800 a month or what mortgage you can get for £900 a month requires a thorough analysis of several factors, including your income, deposit, and the prevailing interest rates. This comprehensive guide will walk you through the process, helping you make an informed decision.
Determining the size of the mortgage you can afford with monthly payments of £800 to £900 involves several key considerations. Let’s break down the potential mortgage amounts based on different monthly payments and interest rates.
Using a mortgage affordability calculator is an excellent way to estimate your borrowing potential. By entering your total income you can get a precise idea of the mortgage amount you can afford.
Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.
Your Results:
You could borrow up to
Most lenders would consider letting you borrow
This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.
Some lenders would consider letting you borrow
This is based on 4.75 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.
A minority of lenders would consider letting you borrow
This is based on 5.5 times your household income, a salary multiple you will struggle to get without a broker. 5.5 times salary mortgages are usually only available under very specific circumstances.
Get Started with an expert broker to find out exactly how much you could borrow.
Get StartedA mortgage affordability calculator can provide a tailored estimate of the maximum mortgage amount you might be able to secure.
Monthly Payment | Interest Rate | Term Length | Mortgage Amount |
£800 a Month | 4% | 25 years | £151,562 |
5% | 25 years | £136,848 | |
6% | 25 years | £124,165 | |
£850 a Month | 4% | 25 years | £161,035 |
5% | 25 years | £145,401 | |
6% | 25 years | £131,926 | |
£900 a Month | 4% | 25 years | £170,507 |
5% | 25 years | £153,954 | |
6% | 25 years | £139,686 | |
£950 a Month | 4% | 25 years | £179,980 |
5% | 25 years | £162,507 | |
6% | 25 years | £147,447 |
*This table reflects the mortgage amounts with monthly payments, different interest rates, and a 25-year term length.
The table shows the potential increase in mortgage borrowing the more the monthly payment increases, these estimates can vary based on the specific terms offered by a lender, your financial circumstances, and other factors such as your credit score and the lender’s criteria.
Based on a mortgage of £300,000 at 75% LTV and 25 years Today’s best buy mortgages
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Several factors influence how much you can borrow. These factors are divided into direct and indirect impacts.
Factors with a direct impact on your mortgage borrowing include:
Indirect factors influencing your borrowing capacity include:
Engaging with a mortgage broker can be incredibly beneficial when trying to secure a mortgage within your budget. Here’s how Ascot Mortgages can assist:
The size of your deposit plays a significant role in the interest rates you are offered and the total loan amount you can secure. Generally, a larger deposit means:
Maximising your budget is crucial when considering what mortgage you can get for £800 a month or what mortgage you can get for £900 a month UK. Here are some tips to help you make the most of your budget:
By leveraging the expertise of a mortgage broker, you can confidently navigate the complexities of securing a mortgage within your budget of £800 to £900 per month. In conclusion, understanding what mortgage you can get for £800 a month or what mortgage you can get for £900 a month involves evaluating your financial situation, exploring different term lengths, and considering the impact of your deposit. By using tools like mortgage calculators and seeking the help of a professional broker, you can confidently find a mortgage that fits your budget and helps you achieve your homeownership goals.
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Free unbiased mortgage advice is just a phone call away.
The mortgage amount will depend on your financial details and the lender’s criteria. Generally, with a good deposit and a favourable interest rate, you might be able to secure a mortgage amount ranging from £140,000 to £170,000.
A mortgage broker can help by providing expert advice, accessing exclusive deals, and simplifying the application process. Their guidance can be invaluable in finding the best mortgage within your budget.
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Ascot Mortgages authorised and regulated by the Financial Conduct Authority and can be found on the FCA register (www.fca.org.uk) under reference 776062. The FCA do not regulate some forms of mortgages. The guidance and advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £599 per mortgage account. Ascot Mortgages Ltd give you the option to pay a non-refundable fee of £1299 payable with the application. If this option is taken, Ascot Mortgages Ltd will refund any procuration fee received by the lender.
Ascot Mortgages Limited is registered in England and Wales and have their registered office at 8 Webster Court, Westbrook, Warrington, WA5 8WD. The company’s registration number is 06764971.
We are a credit broker, not a lender. We work with the whole of the lending market. We may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature any commissions model will be confirmed to you before you proceed.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT
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