A first estimate, before the detailed budget
When this shorter tool is useful
Use this estimate to explore the scale of a possible property search before you have collected every bill. It is deliberately less detailed than the main affordability calculator. An income-based estimate cannot see childcare, dependants, credit history or whether a lender accepts your income. Once a property looks realistic, use the detailed tool and build a separate household budget rather than treating this headline as a ceiling a bank has agreed.
A deposit is not the same as total savings
For a £220,000 home, a £22,000 deposit leaves a £198,000 mortgage and a 90% LTV. If that £22,000 is your entire cash balance, however, legal fees, survey costs and moving still have to be funded. A lower purchase price or more saving may be needed even when the loan itself appears affordable. Property tax also changes by nation and buyer status, so do not simply add an income-based loan to all your savings.
Use the result to ask better questions
Compare a cheaper property, an extra year of saving and a smaller assumed income. The useful outcome is a realistic search range, not a precise price prediction. Check repayments next, then buying costs. An agreement in principle remains conditional and can change after the lender checks your documents and values the property.
Further reading: MoneyHelper — buying a home. Examples are illustrations using stated inputs, not quotes or personal recommendations.
See our method and limitations or report a correction.