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Mortgage Affordability Calculator

With the implementation of the Mortgage Market Review all lenders need to ensure mortgage applicants can meet affordability criteria.

At Ipswich Building Society we’ve always focused on responsible lending, and our use of personalised underwriting has meant we have always kept a close eye on affordability. You can use our Affordability Calculator to check if you would be likely to qualify for the mortgage amount required.

Please note:

  • Income details - 100% of car allowance and 100% child benefit (provided a minimum of 5 years is left to run) can be included within income.
  • Expenditure details - the greyed out figures indicate the average according to Official for National Statistics data. To use a lower amount please input your own figure, and tick the “verified” box if you are able to evidence this.

This calculator is an indicative tool which does not constitute a mortgage offer or guarantee that we will be able to offer you a mortgage. To proceed to an application or if you have any queries please contact a Mortgage Consultant on 0330 123 0773.

Affordability Calculator

Loan Details  

 

 

 

Household Composition  

 

Income Details  

Gross Annual Income  

  Net Monthly Income  

Gross Annual Income  

  Net Monthly Income  

Expenditure Details - monthly total amounts (greyed out areas indicate ONS average data)  

  Confirmed Expenditure Verified

   

   

   

 

 

 

Are you ticking the VERIFIED option box for Expenditure?
Please be aware that whilst we can take an individual view on your clients circumstances, so we do not have to rely upon ONS data, we will need to fully assess their financial position using their Bank Statements to verify their declared expenditure.

Other Mortgage Details Repaying

  Balance
Outstanding
Rental
Income
Monthly
Payments
 

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Loan & Hire Purchase Agreements Repaying

  Balance
Outstanding
Monthly
Payments
 

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Credit / Store Cards Repaying

  Balance
Outstanding
Monthly
Payments
 

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Calculate  

  Free Disposable
Income
Monthly
Payment
 

 

Your home may be repossessed if you do not keep up repayments on your mortgage