YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Mortgage calculators
A great place to start is to find out how much you may be able to afford, and what your monthly repayments could be.
Your budget
Making sure you can afford your mortgage is vital. You will need to compare all of your income and outgoings to see exactly what you could afford as your mortgage repayments.
Lenders will look closely at how much you can afford to pay back each month. If you have any loans, credit card repayments or children who are financially dependent on you, these will all be taken into consideration within your application.
Deposit
The difference in monthly mortgage payments may be significant depending on the size or your deposit. You may get better interest rates with a bigger deposit so, as always, it's worth going away and doing your sums to see how much you can afford.
You'll sometimes see lenders using the term 'LTV', this stands for loan-to-value ratio. This is the percentage of the property value that you're borrowing from your lender. The whole property value is your LTV plus your deposit.