Bad Credit Mortgage Calculator
Got bad credit? You could still get a mortgage. We're specialist bad credit mortgage brokers with a proven track record of making homeownership possible for people like you. Use our mortgage calculator to discover how much you might be able to borrow, what your monthly repayments could be, and more!
Potential property value:
£290,000
Based on 4.5× your household income and the addition of your deposit, you could potentially buy a property of this value.
Lenders are typically willing to lend 4-5 times your income. We've calculated this number by taking your income and multiplying it by 4.5. We then add your deposit to that figure to show the potential property value you could buy.
Mortgage Amount
£270,000
With the income you've told us about, this is the amount lenders may be willing to let you borrow. Some lenders may offer you more or less, based on their own criteria.
This is calculated by taking your household income and multiplying it by 4.5, which is a standard lending multiple used by most mortgage providers.
Monthly Repayment
£1,001
This is an estimate of your monthly repayment, based on the interest rate and mortgage length you entered. To lower your monthly repayments, you can increase your deposit or mortgage term.
Monthly repayments are calculated from the actual loan required to buy the property you entered, i.e. Property value - Deposit, using a standard amortising mortgage formula (interest + reducing principal).
Loan to Value
90%
Loan to value (LTV) is the percentage of the properties value borrowed using a mortgage. Lower LTV's are considered less risky and lenders may offer better interest rates as a result.
Loan to value (LTV) is calculated as (Property value - Deposit) / Property value × 100.
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