When you are reviewing mortgage deals, a mortgage calculator will allow you to compare different mortgage types and deals.
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This blog explains how borrowers can use mortgage calculators to estimate monthly payments and ensure affordability.
Whether you're looking to buy a house for the first time or remortgage your current home, a mortgage calculator can help you determine your affordability.
Overpayment calculator
The overpayment calculator below is a fantastic interactive resource for anyone who is considering overpaying on their mortgage. It can help you save money and show you how to pay off your mortgage faster, giving you an instant guide on how your new mortgage payments could look.
Overpaying can bring many benefits though it needs careful consideration and planning. Seek advice before going ahead as mortgage brokers will be able to analyse whether it is going to be in your interest to do so.
Stamp duty calculator
Our stamp duty calculator is a handy interactive resource for anyone thinking of applying for a mortgage or remortgaging.
It can give you an idea of the Stamp Duty Land Tax (SDLT) you will need to pay on a particular UK-based property, whether that’s your main residence, a second home or a Buy to Let purchase. Though there may be no tax to pay at all. It depends on a number of factors.
When buying a property, it’s important to have this information so you can take it into account when you are working out your purchasing or moving costs.
Mortgage repayment calculator
A mortgage repayment calculator is a useful interactive resource if you’re considering applying for a mortgage, remortgaging or refinancing.
It gives you an indication of what your monthly repayments could be – incredibly helpful for assessing how manageable your monthly repayments will be on a standard or interest-only mortgage. You can use it to influence your decision how much you want to borrow.
Mortgage affordability calculator
A mortgage affordability calculator is a helpful tool if you’re thinking of applying for a mortgage, remortgaging or taking out finance.
It gives you some idea of your potential borrowing limit and indicates the number of lenders you are going to be able to approach. This can be particularly useful if your financial situation means you’ll need to take out a mortgage that’s worth, say, 5.5 times your salary. Naturally, your options will be more limited and it’s more likely you will have to go through a niche lender.