Have you ever asked yourself the question "Can I afford to buy a house" or "What mortgage can I afford"?
This calculator will help you determine whether buying a home with a mortgage is realistic taking into account your current finances.
Date | Price | 10% Deposit | 5% Deposit | Report |
---|---|---|---|---|
Dec 17 | £211,156 | £21,115 | £10,557 | click |
Nov 17 | £209,988 | £20,998 | £10,499 | click |
Oct 17 | £211,085 | £21,108 | £10,554 | click |
Sep 17 | £210,116 | £21,011 | £10,505 | click |
Aug 17 | £210,495 | £21,049 | £10,524 | click |
Jul 17 | £211,671 | £21,167 | £10,583 | click |
Jun 17 | £211,301 | £21,130 | £10,565 | click |
May 17 | £208,711 | £20,871 | £10,435 | click |
Apr 17 | £207,699 | £20,769 | £10,384 | click |
Mar 17 | £207,308 | £20,730 | £10,365 | click |
Feb 17 | £205,846 | £20,584 | £10,292 | click |
Jan 17 | £205,240 | £20,524 | £10,262 | click |
Dec 16 | £205,898 | £20,589 | £10,294 | click |
Nov 16 | £204,947 | £20,494 | £10,247 | click |
Oct 16 | £205,904 | £20,590 | £10,295 | click |
Sep 16 | £206,015 | £20,601 | £10,300 | click |
Aug 16 | £206,145 | £20,614 | £10,307 | click |
Jul 16 | £205,715 | £20,571 | £10,285 | click |
Jun 16 | £204,968 | £20,496 | £10,248 | click |
May 16 | £204,368 | £20,436 | £10,218 | click |
Apr 16 | £202,436 | £20,243 | £10,121 | click |
Mar 16 | £200,251 | £20,025 | £10,012 | click |
Feb 16 | £196,930 | £19,693 | £9846 | click |
Jan 16 | £196,829 | £19,682 | £9841 | click |
Dec 15 | £196,999 | £19,699 | £9849 | click |
Nov 15 | £196,305 | £19,630 | £9815 | click |
Oct 15 | £196,807 | £19,680 | £9840 | click |
Sep 15 | £195,585 | £19,558 | £9779 | click |
Aug 15 | £195,279 | £19,527 | £9763 | click |
Jul 15 | £195,621 | £19,562 | £9781 | click |
Jun 15 | £195,055 | £19,505 | £9752 | click |
May 15 | £195,166 | £19,516 | £9758 | click |
Apr 15 | £193,048 | £19,304 | £9652 | click |
Mar 15 | £189,454 | £18,945 | £9472 | click |
Feb 15 | £187,964 | £18,796 | £9398 | click |
Date | Price | 10% Deposit | 5% Deposit | Report |
---|---|---|---|---|
Q4 17 | £470,922 | £47,092 | £23,546 | click |
Q3 17 | £471,761 | £47,176 | £23,588 | click |
Q2 17 | £478,142 | £47,814 | £23,907 | click |
Q1 17 | £478,782 | £47,878 | £23,939 | click |
Q4 16 | £473,073 | £47,307 | £23,653 | click |
Q3 16 | £474,736 | £47,473 | £23,736 | click |
Q2 16 | £472,384 | £47,238 | £23,619 | click |
Q1 16 | £455,984 | £45,598 | £22,799 | click |
Q4 15 | £456,229 | £45,622 | £22,811 | click |
Q3 15 | £443,399 | £44,339 | £22,169 | click |
Q2 15 | £429,711 | £42,971 | £21,485 | click |
Q1 15 | £408,780 | £40,878 | £20,439 | click |
This data is taken from the Nationwide House Price index and represents the average price of a house.
The purpose of this mortgage affordability calculator is to help people reason about their ability to afford a mortgage.
While its primary aim is to help first time buyers on average incomes calculate whether they can afford to buy a property, it may also help those who: -
Once you have inputted your information into the calculator, it will generate: -
I'm coming to that time in my life where I'm beginning to think about buying a house. The single most frustrating thing to me has been trying to wrap my head around the myriad of topics you need to learn about mortgages and how they work. So I embarked on writing this mortgage calculator to help me see whether buying could be a viable option considering my financial situation.
It is worth noting that there are plenty of similar mortgage calculators out there on the web that perform the same function, e.g.
However I felt these were lacking some critical information such as interest rate rises or not taking into account your take home pay.Sure, but sharing spreadsheets isn't as fun as writing a website.
My name is Daniel Harper, I work as software developer in London.
For enquiries of a professional nature, you can try contacting me via methods listed on my personal website, however I cannot guarantee a reply.
Not in London, where I used to live.
But I've just recently completed on a house elsewhere in the UK :)