Affordability Calculator

  • 1 Loan details

  • 2 Personal details

  • 3 Financial information

Loan details

Repayment method

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Please choose an option
Not available until 2019
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Unfortunately The Cambridge Building Society are currently unable to offer Interest Only lending. We'll be re-launching this offering early in 2019. Please check back or contact the team for further details.

Mortgage term

Please enter the required mortgage term
Please enter the required mortgage term

Loan type

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Please choose an option

Property value

Please enter a value
Please enter a value
£

Please enter the agreed purchase price, or estimated value of the property

Interest only amount

Please enter a value
Please enter a value
£

Please enter the amount your customer wants to borrow. For remortgages please enter the value of the existing mortgage and any additional borrowing required.

Repayment amount

Please enter a value
Please enter a value
£

Please enter the amount your customer wants to borrow. For remortgages please enter the value of the existing mortgage and any additional borrowing required.

Mortgage amount

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter the amount your customer wants to borrow. For remortgages please enter the value of the existing mortgage and any additional borrowing required.

Loan to value

80%

This is outside of our lending criteria, please check your figures for errors and try again. We may be able to lend up to 5x LTI on purchases up to 80% LTV - please speak to the Business Development team for more information.

Personal details

Type of application

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Please choose an option

Applications will be considered for up to four applicants, however, the calculator can only consider two incomes. Please contact the team to discuss further.

Number of financial dependants

Please choose an option
Please choose an option

Please enter the number of dependants who are financially reliant on on your customer(s).

Age

Please enter the required mortgage term
Please enter the required mortgage term

The minimum age for mortgages is 18 however there is no upper age limit at the end of the mortgage term. Where there is more than one applicant please enter the age for the first applicant.

Employment status

Please choose an option
Please choose an option

Gross basic income

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter your customer’s gross annual income (this must be paid weekly, monthly or quarterly), including any car and or large town allowance and any income received from a second job.

Self Employed Year 1

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter your customer’s net income for most recent year which must not be more than 15 months old . Net income is calculated by taking your customers share of any net profit (after corporation tax if a Ltd Company) plus any additional salary. NB we allow for a deduction for personal tax in our affordability calculations.

Self Employed Year 2

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter your customer’s net income for financial year 2. Net income is calculated by taking your customers share of any net profit (after corporation tax if a Ltd Company) plus any additional salary. NB we allow for a deduction for personal tax in our affordability calculations.

Self Employed Year 3

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter your customer’s net income for financial year 3. Net income is calculated by taking your customers share of any net profit (after corporation tax if a Ltd Company) plus any additional salary. NB we allow for a deduction for personal tax in our affordability calculations.

Gross additional income (if applicable)

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter your customer’s additional gross income from overtime, bonus or commission (must be paid weekly, monthly or quarterly).

Type of additional income

Please choose an option
Please choose an option

Is this additional income guaranteed?

Monthly Net Income

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter your customer’s net monthly income (this must be paid weekly, monthly or quarterly), this should include any car and or large town allowance and any income received from a second job.

Net monthly additional income

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£
Please enter any additional net income received from overtime, bonus or commission. For further information of the types of income considered please view our Underwriting criteria or contact the team.

Second applicant

Employment status

Please choose an option
Please choose an option

Gross basic income

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter your customers gross annual income (this must be paid weekly, monthly or quarterly), including any car and or large town allowance and any income received from a second job.

Self Employed Year 1

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter your customer’s net income for most recent year which must not be more than 15 months old . Net income is calculated by taking your customers share of any net profit (after corporation tax if a Ltd Company) plus any additional salary. NB we allow for a deduction for personal tax in our affordability calculations.

Self Employed Year 2

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter your customer’s net income for financial year 2. Net income is calculated by taking your customers share of any net profit (after corporation tax if a Ltd Company) plus any additional salary. NB we allow for a deduction for personal tax in our affordability calculations.

Self Employed Year 3

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter your customer’s net income for financial year 3. Net income is calculated by taking your customers share of any net profit (after corporation tax if a Ltd Company) plus any additional salary. NB we allow for a deduction for personal tax in our affordability calculations.

Gross additional income (if applicable)

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter your customers additional gross income from overtime, bonus or commission (must be paid weekly, monthly or quarterly).

Type of additional income

Please choose an option
Please choose an option

Is this additional income guaranteed?

Monthly Net Income

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter your customers net monthly income (this must be paid weekly, monthly or quarterly), this should include any car and or large town allowance and any income received from a second job.

Net monthly additional income

Please enter the expected mortgage amount
Please enter the expected mortgage amount
£

Please enter any additional net income received from overtime, bonus or commission. For further information of the types of income considered please view our Underwriting criteria or contact the team.

Loan to Income Ratio

80%

This is outside of our lending criteria, please check your figures for errors and try again. We may be able to lend up to 5x LTI on purchases up to 80% LTV - please speak to the Business Development team for more information.

Financial information

Total essential expenditure

Please enter your customer's total basic expenditure
Please enter your customer's total basic expenditure
£

Please provide the total amount that your customer spends on the following items:Food and Drink; Utilities; Council Tax; Transport Costs; Communication; Childcare; Buildings and Contents Insurance.

Total quality of living expenditure

Please enter your customer's total essential expenditure
Please enter your customer's total essential expenditure
£

Please provide the total amount that your customer spends on the following items: Household Goods and Services; Health; Education; Clothing; Recreation and Culture; Holidays, Restaurants & Hotels; Other Spending.

Total credit commitments

Please enter your customer's total credit committments
Please enter your customer's total credit committments
£

Please provide the total amount the customer pays per month on outstanding credit balances. This includes Loans; Hire Purchases; other Residential Mortgages, and Credit Cards. For Credit Cards we expect this to be at least 3% of the remaining balance.





Results

These results are based on the information you’ve input being accurate. If any details change, the results will be affected and you should undertake another affordability calculation.

The loan request of £200,000 is affordable for your customer

Based on the information you have provided we could lend your customer up to £232,000

As part of our commitment to responsible lending we assess affordability based on income and expenditure, and as part of this we set minimum expectations based on ONS data.

Your customer’s expenditure falls below our minimum expenditure expectations.

We are still able to consider this application; however we will require an explanation of why the figures fall outside of our minimum expectations. If you wish to discuss this further please call us on 0345 601 2744.

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