Mortgage & Stamp Duty Calculators

Mortgage Calculator – Estimated Monthly Mortgage Repayments

This mortgage calculator helps you estimate your monthly mortgage payments based on the loan amount, interest rate, and repayment term. Figures shown are for guidance only.

Stamp Duty Calculator

Use our Stamp Duty calculator to estimate how much Stamp Duty Land Tax (SDLT) you may need to pay when buying a property in England or Northern Ireland.

The calculator allows you to:

Enter the property purchase price
Select whether you are a first-time buyer, standard buyer, or buying an additional property
Instantly see an estimated Stamp Duty amount based on current tax thresholds

This tool is designed to give a quick, clear indication of potential Stamp Duty costs so you can plan your budget before making an offer.

*For illustration purposes only. Stamp Duty rules and reliefs may change, and your actual tax liability will depend on your individual circumstances.

Frequently asked questions

Want to know how much you can borrow? Speak with us today - we’re happy to help.

What interest rate should I use?

This calculator allows you to explore how different interest rates could impact your monthly mortgage payments. It’s sensible to try several rates, as mortgage pricing can change over time and the rate available to you may vary throughout your mortgage term.

In general, a higher deposit often gives access to more competitive rates. However, it’s best not to rely on receiving the lowest advertised deals. To plan safely, consider testing slightly higher interest rates to understand how your finances would cope if rates rise.

What should I do after using this calculator?

If you’re ready to take the next step towards a mortgage application, it’s a good idea to speak with a mortgage broker. An independent mortgage adviser can assess your circumstances, guide you through your options, and help you find a suitable mortgage with the best chance of success.

You can contact us by email or WhatsApp, or simply complete the enquiry form to arrange a free, no-obligation chat at a time that suits you.

How much can I borrow on a mortgage?

As a general rule, many lenders will consider lending around four to four-and-a-half times your annual income. For example, an income of £25,000 could allow borrowing of approximately £100,000 to £112,500.

However, mortgage affordability is not based on income alone. Lenders also assess several other factors, including:

Loan-to-value (LTV): the percentage of the property price you are borrowing. Higher LTV mortgages can limit how much you are offered.
Credit history: a strong credit record can improve borrowing potential.
Income type: employed, self-employed or non-standard income can affect lender criteria.
Age: some lenders apply limits as you approach retirement.
Affordability: your monthly commitments play a key role in how much you can borrow.

For the most accurate assessment and access to a wide range of lenders, speaking with an independent mortgage broker can help maximise your borrowing potential and chances of approval.

Should I borrow the maximum amount I can afford?

When buying a home, it can be tempting to stretch your budget to secure the property you really want. Property is often viewed as a long-term investment, and many buyers prefer to choose a home that will suit their needs for years to come rather than moving again in the near future.

That said, borrowing at the very top of your affordability can increase financial pressure. Interest rates can change over time, which may lead to higher monthly repayments. In addition, changes to income or employment could affect your ability to comfortably maintain your mortgage payments.

For this reason, many buyers choose to build in a financial buffer and aim for repayments below the absolute maximum they could afford. The size of this buffer will depend on your personal circumstances, income stability and attitude to risk. Generally, the less predictable your income, the more headroom it may be sensible to allow.

Another option to consider is a mortgage with a longer fixed interest rate period. Longer fixes can provide payment stability and help with budgeting, although they may not be suitable for everyone.

What’s the minimum deposit needed for a mortgage?

Most mortgages require a cash deposit, although some specialist options, such as guarantor mortgages, may use alternative security instead. As a general guide, many lenders expect a minimum deposit of around 10% of the property price, though this can vary.

For example, on a £200,000 property:

A £20,000 deposit would mean borrowing £180,000 - a 90% loan-to-value (LTV) mortgage
A £40,000 deposit would reduce the mortgage to £160,000 - an 80% LTV mortgage

The loan-to-value (LTV) represents the percentage of the property value you are borrowing. A higher deposit results in a lower LTV, which can improve your choice of lenders and interest rates.

Some lenders may offer mortgages with deposits as low as 5% (95% LTV), although availability and criteria can be stricter. In practice, many buyers aim for a deposit of 10% or more to access a wider range of mortgage options.

How does LTV affect the cost of my mortgage?

In general, a lower loan-to-value (LTV) can give access to more competitive mortgage rates. From a lender’s perspective, a lower LTV represents less risk, which can translate into lower interest rates, smaller monthly repayments and a wider choice of mortgage products.

Higher LTV mortgages, such as 95%, often come with fewer options and higher interest rates. Reducing your LTV to 85% or 80% can unlock better deals and may also provide greater flexibility when you come to remortgage.

Mortgage pricing is typically structured in 5% LTV bands. This means that dropping into a lower band - for example, from 90% to 85% - can make a noticeable difference to the rates available, even if the change in deposit is relatively small.

For this reason, it can be worth aiming for the lowest LTV band possible, where practical, to access the most favourable mortgage terms.

Should I save more to reach a lower LTV band?

In some cases, saving a little more to move into the next 5% loan-to-value (LTV) band can reduce your mortgage interest rate and lower your monthly repayments over the long term. Even a small improvement in LTV can sometimes unlock more competitive mortgage deals.

If reaching the next LTV band isn’t realistic, borrowing slightly less will still reduce your repayments, as the loan amount itself will be smaller. However, many buyers choose to keep part of their savings as a financial buffer rather than using everything as a deposit.

Maintaining some accessible savings can be helpful if your circumstances change or unexpected costs arise. The right balance between deposit size and retained savings will depend on your personal situation, income stability and comfort with risk.

What can prevent you from getting a mortgage?

Several factors can affect whether a lender is willing to offer you a mortgage, or the type of deal available. Common issues include:

Low deposit, resulting in a high loan-to-value (LTV)
Insufficient income to meet affordability criteria
Irregular or variable income, including some self-employed earnings
High existing financial commitments, such as loans or credit cards
Poor or limited credit history

Credit history and scoring

Each lender uses its own method to assess creditworthiness, often based on data from credit reference agencies. In simple terms, consistently repaying credit on time can improve your credit profile, while missed or late payments can reduce it.

Having little or no credit history can also be a disadvantage, as lenders may have limited evidence of how you manage borrowing. In some cases, responsibly using a credit card before applying for a mortgage can help demonstrate reliability.

Which type of mortgage should I choose?

Which type of mortgage should I choose?
There are several types of mortgages available, each offering different levels of certainty and flexibility. The right option will depend on your circumstances, attitude to risk and future plans.

Fixed-rate mortgage
With a fixed-rate mortgage, your interest rate stays the same for an agreed period, commonly two, three, five or even ten years. This provides payment certainty and makes budgeting easier, as your monthly repayments won’t change during the fixed term.

Tracker mortgage
A tracker mortgage follows an external interest rate, usually the Bank of England base rate, plus or minus a set margin. Your repayments can go up or down in line with base rate changes, meaning costs may fluctuate over time.

Discounted mortgage
A discounted mortgage offers a reduction from the lender’s standard variable rate (SVR) for a set period. While initial payments may be lower, the rate can change if the lender adjusts their SVR, making this option less predictable.

Variable-rate mortgage
A variable mortgage is directly linked to the lender’s SVR. Rates can change at any time and by any amount. Many borrowers move onto this type of rate when a fixed or tracker deal ends, but often choose to remortgage to a new deal instead.

Choosing the most suitable mortgage depends on your financial situation and future plans. We can help compare options across lenders and guide you towards the type of mortgage that best fits your needs.

What happens when I remortgage?

When your initial mortgage deal ends, you are usually moved onto your lender’s standard variable rate (SVR), which is often higher. To avoid paying more than necessary, many homeowners choose to remortgage every few years by switching to a new deal.

Common reasons to remortgage include:

Your property has increased in value, improving your loan-to-value (LTV)
More competitive mortgage rates are available
Your income or circumstances have improved
You want a more flexible mortgage
You wish to release equity for other purposes

It’s important to be aware of potential obstacles. Some mortgages include early repayment charges, meaning there may be a cost to leaving a deal before the end of the agreed period.

In some cases, borrowers may find it difficult to switch if lender criteria change, even if their existing payments are affordable. This situation is sometimes referred to as being a mortgage prisoner.

Planning ahead and reviewing your options early can help reduce these risks.

Can I get a buy-to-let mortgage?

Yes, it’s possible to get a buy-to-let mortgage if you plan to purchase a property to rent out. However, buy-to-let lending criteria are different from residential mortgages and are usually more stringent.

Most lenders prefer applicants to already own a residential property, and only a limited number offer buy-to-let mortgages to first-time buyers.

In many cases, the minimum deposit required is around 20% - 25%, although some properties or circumstances may require a higher deposit, sometimes up to 40%.

Buy-to-let mortgages are commonly arranged on an interest-only basis, meaning your monthly payments cover the interest rather than reducing the loan balance. The mortgage is typically repaid when the property is sold.

Affordability is mainly assessed using expected rental income, rather than personal income. As a general guide, lenders usually require the rent to cover the mortgage payment plus an additional margin (often around 25%) to allow for costs and potential interest rate changes.

Should I buy a property in my personal name or through an SPV?

Should I buy a property in my personal name or through an SPV?
When buying an investment property, you can purchase it in your personal name or through a Special Purpose Vehicle (SPV) limited company. The right option depends on your tax position, borrowing plans and long-term strategy.
Buying in your personal name
Purchasing personally is often simpler and may suit first-time landlords or those with one or two properties. Personal buy-to-let mortgages are widely available and can sometimes offer slightly lower interest rates. However, mortgage interest tax relief is restricted, which can increase the tax payable for higher-rate taxpayers.
Buying through an SPV (limited company)
An SPV is a limited company set up specifically to hold investment properties. Many landlords use SPVs because mortgage interest and certain costs can usually be offset against rental income before tax. This structure is often preferred by higher-rate taxpayers or those planning to grow a property portfolio.
SPV mortgages can require larger deposits and may have slightly higher interest rates, but they can offer greater flexibility for long-term investing and profit retention within the company.
Which option is best?
There is no one-size-fits-all answer. The best structure depends on factors such as:

Your personal tax rate
Whether you plan to buy more properties
Deposit size and borrowing capacity
Long-term investment goals

Speaking with a mortgage broker and a tax adviser or accountant can help you decide whether buying personally or via an SPV is more suitable for your circumstances.

Common SIC codes accepted by buy-to-let lenders (SPV companies)

When setting up an SPV limited company for a buy-to-let mortgage, lenders usually expect the company to be set up solely for property investment. The following SIC codes are widely accepted by most UK buy-to-let lenders:

Most commonly used (recommended):

68100 - Buying and selling of own real estate
68209 - Other letting and operating of own or leased real estate

Also commonly accepted:

68320 - Management of real estate on a fee or contract basis

In most cases, lenders prefer:

One or two SIC codes only
No trading activity unrelated to property
A “clean” SPV with no other business purposes