The journey to owning a home, whether you're a seasoned property investor or, more commonly, a nervous first time buyer, can often feel like navigating a complex maze. The biggest hurdle isn't finding the perfect house; it’s unravelling the confusing tapestry of rates, terms, and repayments.
Stop relying on confusing forum advice or vague assumptions. At Friends Capital, we believe that clarity is the foundation of confidence. That’s why we’ve designed a powerful, yet simple, mortgage calculator tool that can transform your understanding of your financial potential in less than two minutes.
This tool isn't just about punching in a number and getting a simple repayment figure; it's a vital starting point that helps you organise your thoughts and, crucially, prepares you to speak to a professional mortgage adviser with precision.
Here are five essential things our calculator can tell you, paving the way to your dream home.
This is the most critical question for any house hunter: How much can I realistically borrow?
Many people assume a simple multiplier of their annual salary, but modern lending is far more specialised. Lenders must take into account your entire financial landscape—your income, monthly outgoings, existing debts, and the size of your deposit.
Our mortgage calculator acts as a smart initial filter. By inputting your basic financial details, it gives you a robust estimate of the maximum loan amount you are likely to qualify for. This step is invaluable for a first time buyer, as it immediately focuses your property search, saving you the heartbreak of falling for a home that sits outside your budget. It moves you from "what if?" to "what can I achieve?".
The monthly payment is the heartbeat of your mortgage, and knowing this figure with a high degree of certainty is essential for budget planning.
Our tool quickly computes your projected monthly commitment based on current average interest rates. This allows you to model various scenarios, such as different loan-to-value (LTV) ratios and repayment methods (Capital & Interest or Interest-Only). Understanding this figure allows you to work backwards and ensure that the repayment is comfortable, leaving you enough disposable income for life’s other essentials and, importantly, for any unexpected increases in the future.
This clarity prevents nasty surprises and enables you to confidently plan your budget months and years in advance.
A mortgage is typically a 25-year commitment, and small tweaks at the beginning can have a massive impact on the total cost. Our calculator allows you to play with two of the most influential variables: the loan term and your deposit size.
By comparing these scenarios side-by-side, you gain powerful insight into the financial trade-offs, helping you make a strategic decision that aligns with both your immediate cash flow and your long-term financial goals.
It’s a common mistake, particularly for first time buyers, to save only for the deposit, forgetting the necessary—and sometimes considerable—upfront costs. Property purchases in the UK come with various fees, and ignoring them can jeopardise your entire purchase.
Our calculator can offer rough estimates for essential expenditures such as:
Understanding the total cash required to get the keys—not just the deposit—is crucial. By factoring these in, the mortgage calculator provides a more honest and holistic picture of your purchasing power, preventing budgetary shortfalls just before exchange.
Perhaps the most valuable piece of information the calculator provides is a clear signal that it's time to seek professional advice. The calculator gives you a range of possibilities; a qualified mortgage adviser gives you the definitive solution.
Once you have your figures, an adviser from Friends Capital takes over. They will:
The calculator gets you ready; your adviser secures the best deal for your unique circumstances and manages the entire, often complicated, application process on your behalf.
The stress of securing a mortgage is often rooted in uncertainty. Our calculator cuts through the noise, providing immediate, actionable data to transform that uncertainty into confidence. It’s the easiest way to take control of your property aspirations, whether you’re considering your first step onto the ladder or planning a [future remortgaging] strategy.
Don't spend another evening guessing or worrying. Take two minutes to get the clarity you need right now.
Ready to find out how much you can borrow? Click Here