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    • Mortgage Calculator
      Essex Home Finance
    • Mortgage Calculator
      Essex Home Finance

      How Much Can I Borrow?


      For a Residential Mortgage, the amount you can borrow on a Mortgage is based on an Affordability Calculation, which is different for every one of the Mortgage Lenders. The amount of equity makes little difference on the sum you can borrow, but it will affect the mortgage rate / deal pricing.

      The calculator below asks some basic information on your individual finances and gives you a potential range of borrowing potential - for a more accurate assessment of your situation, and size of mortgage you could borrow, please contact us.


      Your Income

      Include Gross Salary, and Permanent Shift Allowance / Car Allowance

      Include Commission, Bonus and Overtime

      Potential Mortgage

      £
      ( [annual_salary] + ( [additional_annual_income] * 0.6 ) - ( [monthly_loans] + [outgoings] + ( [card_balances] * 0.03 ) ) * 12 ) * 4.5
      £
      ( [annual_salary] + [additional_annual_income] ) * 5

      If the figures don't add up….

      This Calculator is simply a guide to potentially what you could borrow on a Residential Mortgage. At Essex Home Finance we always suggest our clients provide copies of their Payslips / Self Employed Income, and personal bank statements, so that we can assess your options and see what you can borrow.

      Complete our Online Mortgage Application to provide us with more details so we can make that important assessment of your situation, and calculate what you could borrow.


      Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

      Registered address: 1 High Street, Chelmsford, Essex, CM1 1BE. Registered in England & Wales under number 10607263.

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

      *From the 1st March 2018, there are No Broker Fees for Residential First Time Buyers, Residential Home Movers, Residential Remortgage, and all Product Transfers (Residential or Buy to Let). There will be a fee for all Buy to Let Purchase and Buy to Let Remortgage cases. Typically our fee will be £149, payable on Offer. We will agree any fees with you before we proceed with your case.

      There will be a fee for all Equity Release Mortgage cases. Typically our fee will be £695, payable on Offer. We will agree any fees with you before we proceed with your case.

      We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. 

      Our advice is covered under the Financial Ombudsman Service.  You may be able to submit a claim through the  EU Online Dispute Resolution Platform If you live outside the United Kingdom or if you prefer not to deal directly with the Financial Ombudsman Service.

      Association of Mortgage Intermediaires

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