Mortgage Affordability Calculator

 

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    Tips on using our affordability calculator

      Fill in applicant's name

     

    It may seem like an obvious step but it is very important. This calculator will need to be printed and sent to us as part of the application form so it’s important that the applicant’s name is included. 

     

     

      Mortgage and affordability details

     

    Fill out all of the mortgage details (Loan amount, term, etc.) and the affordability details (Dependants, remuneration, outgoings, etc.)

    Keep the following in mind when completing the application form to ensure that all the details are captured correctly:

     

    i.

    Transport costs:

    You should choose from one of the following transport types:

    Sole applicants
    • Car
    • Public transport
     
    Joint applicants
    • Both have own cars
    • Both share same car (no public transport costs)
    • Both use public transport
    • Car and public transport
    ii. Credit card:
    • If balance paid in full each month then zero to be entered
    • If balance not cleared then minimum 5% of outstanding balance to be entered
    iii. Other mortgages:
    • This refers to other mortgages (Consumer buy to let, holiday home or investment property loans) that will continue following the drawdown of the new mortgage
    • We require this repayment to be stress tested as follows:
        Product Stress Rate +  
        SVR 3.00%  
        <5Yr Fixed 3% above origination rate  
        5Yr or more 2% above existing 5yr rate  
        Lifetime Tracker 3% above Tracker Rate  
      Example
    • Your current repayment is worked out as follows:
      £100,000 over 20 years at a rate of 3% = £560.14
    • Your stressed repayment is worked out as follows (using the same example):
      £100,000 over 20 years at a stressed rate of 6% (i.e. 3% + 3%) = £726.54
     
    iv. If applicable, please add the Co-Ownership Housing monthly rental repayment in the Ground Rent / Service Charges section of the affordability calculator. You will find this on the Co-Ownership Housing website or offer. Please note this repayment will be stressed once submitted which may impact affordability.

     

     

      Press 'Calculate'

     

    This will calculate affordability based on your inputs and will let you know whether you have met our minimum criteria. The results will be either:

     

    • Criteria met – based on your inputs our affordability criteria has been met. You should proceed to completing the application form
    • Criteria not met – unfortunately, based on your inputs our affordability criteria has not been met. You should review your inputs to ensure that the information entered is correct. You should not submit the application.

     

     

      Criteria met

     

    If the mortgage has met our affordability criteria you should take the following steps:

     

    • Print the affordability calculation
    • Proceed to completing our application form
    • Include the printed affordability calculator pdf when submitting the application form. For more details on how to submit an application form, click here

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Note: The print function for this calculator is not compatible with Internet Explorer browsers (including Edge). As you are required to submit a printed copy of the calculation along with an application, please ensure that you are using this calculator on a browser other than Internet Explorer.

 

         

First Trust Bank Intermediary Affordability Calculator

Applicants Name(s):

Please enter applicants name(s)

About The Property
Mortgage Amount:

Please enter a Mortgage Amount

Property Value / Purchase Price:

Please enter a Property Value / Purchase Price

Mortgage Term:

Please enter a mortgage term

Product Type:
  • Please Select
  • SVR
  • DSVR 2 Year
  • DSVR 3 Year
  • 2 Year Fixed
  • 3 Year Fixed
  • 5 Year Fixed
Please Select
Please Select

Please select a product type

Number of Applicants:
  • Please Select
  • 1
  • 2
Please Select
Please Select

Please select number of applicants

Financial Dependants
Applicant 1 Applicant 2
Number of Dependants:

Applicant 1

  • Please Select
  • 0
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10+
Please Select
Please Select

Please select number of Dependants

Applicant 2

  • Please Select
  • 0
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10+
Please Select
Please Select

Please select number of dependants

Number of Dependants older than 11 years:

Applicant 1

  • Please Select
  • 0
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10+
Select Fixed Rate
Please Select

Please select number of dependants (11+ years)

Value of Dependants older than 11 years cannot be greater than Total Number of Dependents

Applicant 2

  • Please Select
  • 0
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10+
Please Select
Please Select

Please select number of dependants (11+ years)

Value of Dependants older than 11 years cannot be greater than Total Number of Dependents

Remuneration
Net Monthly Income (after all deductions):

Applicant 1

Value must be greater than zero

Applicant 2

Value must be greater than zero

Guaranteed Additional Net Monthly Income:

Applicant 1

Applicant 2

Rental Income (70% of value recorded is included in our calculation):

Applicant 1

Applicant 2

Total
Combined Transport (Car Expenses, Essential Public Transport)
Transport Costs:

Value must be greater than zero

How will you travel?:
  • Please Select
  • Car
  • Public Transport
Please Select
Please Select

Please select mode of transport

  • Please Select
  • Both Have Own Cars
  • Both Share Same Car
  • Both Use Public Transport
  • Car & Public Transport
Select Fixed Rate
Please Select

Please select mode of transport

Total (final calculation may be based on our minimum living criteria)
Section 1
Utilities (Gas, Electric, Heating, Phones incl Mobile, TV, Broadband):

Value must be greater than zero

Personal Goods, Food, Drink & Clothing:

Value must be greater than zero

Household Goods & Repairs:

Value must be greater than zero

Ground Rent / Service Charges:

Value must be greater than zero

Entertainment, Recreation, Gym, Holidays:

Value must be greater than zero

Total (final calculation may be based on our minimum living criteria)
Section 2
Childcare Costs / School Fees:
Building / Life / General Insurance Premiums:
Rates:
Child Maintenance:
Other:
Total
Section 3
Credit Card:
Loan:
HP Payments:
Other Mortgages (See How to use our affordability calculator page for further details):
Other:
Total
FT Minimum Net Disposable Income 0.00
Living Cost Used 0.00
LTV 0.00
Surplus Amount 0.00
Transport Cost 0.00
Stress Repayment Amount 0.00
Net Disposable Income 0.00
Required Surplus 0.00
Affordability Result

Important information

This calculation is for illustrative purposes only and is subject to a full credit assessment. It should not be considered as a mortgage offer and is valid at time of calculation only. Please submit the printed calculation with your application form.