Mortgage Affordability Calculator

How much will I be able to borrow?

*Required

You can use our mortgage calculator to get an estimate of what you may be able to borrow based on your income and financial commitments. During the application process we will ask you for a more detailed breakdown of your income and outgoings which may change the amount we could lend you.

Help with Number of Adults and Children

Help with applicant 1 annual income
Help with applicant 2 annual income
Help with monthly outgoings
Please note the minimum household income for a residential mortgage is £20,000
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Number of Adults-Children – Help text

Number of Adults

Please advise the number of applicants plus the number of other adults who are financially dependent upon the applicants.

Number of Children

Please advise the number of children you have under the age of 18.

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Repayment Loan Amount (£) – Help text

If you are employed please include:

  • your annual gross basic salary including any occupational pension
  • 100% of any mortgage or rent subsidies, geographical allowances, car allowances and shift premiums*
  • 50% of any bonus, overtime and commission*

*Additional payments must be proven as being regular and continuing, and are subject to assessment

If you are self employed include :

  • the average of your last 3 years earned taxable income or
  • your most recent years income if it is lower than the average
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Interest Loan Amount (£) – Help text

If you are employed please include:

  • your annual gross basic salary including any occupational pension
  • 100% of any mortgage or rent subsidies, geographical allowances, car allowances and shift premiums*
  • 50% of any bonus, overtime and commission*

*Additional payments must be proven as being regular and continuing, and are subject to assessment

If you are self employed include :

  • the average of your last 3 years earned taxable income or
  • your most recent years income if it is lower than the average
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Annual income (£) – Help text

If you are employed please include:

  • Your annual gross basic salary including any occupational pension (this is the amount you earn before tax and national insurance deductions)
  • 100% of additional guaranteed income (i.e. payments which form part of your employment contract) such as mortgage or rent subsidy, geographical allowance or car allowance
  • 50% of non-guaranteed variable bonus, overtime and commission payments*

*Additional payments must be proven as being regular and continuing, and are subject to assessment

If you are self employed please average your last 3 years earned UK taxable income (your gross taxable income, not your turnover); or use your most recent years income if it is lower than the average. Earned taxable income is defined as follows:

  • For sole traders use your net profit figures
  • For partnerships use your share of the net profit
  • For directors with a 25% or greater shareholding use the total of your director's remuneration and dividend income
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Annual income (£) – Help text

If you are employed please include:

  • Your annual gross basic salary including any occupational pension (this is the amount you earn before tax and national insurance deductions)
  • 100% of additional guaranteed income (i.e. payments which form part of your employment contract) such as mortgage or rent subsidy, geographical allowance or car allowance
  • 50% of non-guaranteed variable bonus, overtime and commission payments*

*Additional payments must be proven as being regular and continuing, and are subject to assessment

If you are self employed please average your last 3 years earned UK taxable income (your gross taxable income, not your turnover); or use your most recent years income if it is lower than the average. Earned taxable income is defined as follows:

  • For sole traders use your net profit figures
  • For partnerships use your share of the net profit
  • For directors with a 25% or greater shareholding use the total of your director's remuneration and dividend income
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Other net income (£) – Help text

If you are employed please include:

  • your annual gross basic salary including any occupational pension
  • 100% of any mortgage or rent subsidies, geographical allowances, car allowances and shift premiums*
  • 50% of any bonus, overtime and commission*

*Additional payments must be proven as being regular and continuing, and are subject to assessment

If you are self employed include :

  • the average of your last 3 years earned taxable income or
  • your most recent years income if it is lower than the average
Close

Monthly Cost of Repayment Strategy (£) – Help text

If you are employed please include:

  • your annual gross basic salary including any occupational pension
  • 100% of any mortgage or rent subsidies, geographical allowances, car allowances and shift premiums*
  • 50% of any bonus, overtime and commission*

*Additional payments must be proven as being regular and continuing, and are subject to assessment

If you are self employed include :

  • the average of your last 3 years earned taxable income or
  • your most recent years income if it is lower than the average
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Monthly outgoings (£) – Help text

Enter the total amount (combined for joint applicants) you will continue to pay each month for committed outgoings. Details of what you should include and exclude are listed below.

INCLUDE:

  • car finance and personal loans
  • student loans
  • second or subsequent charges secured on your property
  • hire purchase commitments
  • overdraft interest calculated at 2% of the current overdraft balance
  • credit card/store card/catalogue debts calculated at 3% of the current outstanding balance
  • childcare costs/school fees/maintenance/alimony
  • interest costs on any non Buy to Let mortgages you hold calculated at 7.35% of the approximate balance at completion

EXCLUDE:

  • living expenses (e.g. food, utility bills, clothes, petrol)
  • subscriptions to leisure activities (e.g. gym or golf club membership)
  • commitments, payments or rent that will cease if this mortgage completes
  • monthly payments for other mortgages, even if they will continue after completion
  • pension contributions

Mortgage calculations

The figures here will only give you an estimate of what you may be able to borrow. It isn't a mortgage offer and is not legally binding.

When you go through the application process the amount you could borrow will be based on a more detailed breakdown of your income and outgoings.

It doesn't apply to Buy to Let mortgages which are based on different calculations.

If you know which mortgage you like, you can work out your monthly repayments with our Repayment Calculator.

Post Office Money® Mortgages are provided by Bank of Ireland UK


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE


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Small print

Please note our online mortgage application is only compatible with Internet Explorer 9+, Google Chrome 34+, Firefox 28+, Safari 5 and 7 web browsers and is not optimised for mobile phones.

Subject to status and lending criteria. Written illustrations available upon request. Borrowers must be aged 18 or over.

Post Office Limited is an appointed representative of Bank of Ireland (UK) plc which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, FRN 512956. You can check this on the Financial Services Register by visiting the website www.fca.org.uk/register or by contacting the Financial Conduct Authority (FCA) on 0800 111 6768. Bank of Ireland UK is a trading name of Bank of Ireland (UK) plc which is registered in England & Wales (No. 07022885). Registered Office: Bow Bells House, 1 Bread Street, London, EC4M 9BE. Post Office Limited is registered in England and Wales (No. 2154540). Registered Office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ. Post Office Money and the Post Office Money logo are registered trademarks of Post Office Limited.