Mortgage Affordability Calculator (United Kingdom)
Mortgage Affordability Calculator (United Kingdom): a planned Super Calculator tool. Stub page: the tool, its formula and a worked example are not published.
Mortgage Affordability Calculator (United Kingdom) is a planned calculator in the real estate section of Super Calculator, covering country mortgage regimes.
What this calculator will compute
Inputs: gross income (GBP), joint applicant income (GBP), committed expenditure (GBP), dependants, deposit (GBP), term (years), product rate (%) and stress rate (%).
Outputs: maximum borrowing (GBP), loan-to-income multiple, stressed payment (GBP) and binding constraint.
Formula, recorded as scope and not yet verified against a primary source: UK affordability combines a loan-to-income cap applied by the lender with an FCA-mandated affordability assessment that stresses the payment at a rate above the reversion rate, and an expenditure assessment using Office for National Statistics based living cost benchmarks rather than a simple debt ratio.
Status
This page is a stub. The calculator is not built, no figure on this page has been verified against the authority that sets it, and nothing here should be used to make a decision. The page exists so that the site structure is complete and so that articles can link this concept on first mention.
The stub carries noindex, nofollow and is excluded from the sitemap.