Buy to Let Affordability Calculator

Please note we do assess the applicant's overall mortgage debt (including their residential mortgage(s)) against their earned (not rental) income. Please contact us on 0800 988 1561 for assistance with this

1Loan & income details

Where a product fee is to be debited to the mortgage account on completion, this should be included in the loan amount and the product loan to value must not be exceeded.

Loan amount *

Purchase Price / Property Value *

Interest rate (pay rate)*

Loan to Value *

Applicant 1 income

Gross annual income *

Net monthly income *

Anticipated monthly rent *

Add second applicant

Applicant 2 income

Gross annual income *

Net monthly income *

2Monthly expenditure details

Residential mortgage payment

Other mortgages (if not being repaid)

Other debts eg loans/credit cards, etc

Maintenance/child support payments

Personal Pension

Insurance (Life, Health, Buildings & contents)

Utilities

Council Tax

Food/Groceries/Personal Goods (toiletries)

Ground Rent/Services

TV Licence, Telephone, Mobiles, Internet etc.

Car running costs and travel

Childcare costs/Schools/Uni fees

Clothes, Entertainment, Hobbies, Gym etc

Household goods & Repairs

Savings

Total monthly expenditure

£0.00

Total net monthly income

£0.00

Please note the following terms: [Click here]

This calculator should be used as a guide only and is not a guarantee that your application will be approved
The Society tests that the mortgage is affordable for the borrower in the event of an interest rate increase
A guide to the affordability of the loan is provided by this calculator, with a further detailed stress test being undertaken on submission of the application
The stress test process and rate applied by the Society is in line with regulatory requirements
The calculator makes an initial assessment of the case purely based on the information provided
The calculator assumes you require an interest only buy to let mortgage – please contact the Society should you require guidance for a repayment buy to let mortgage
The Society does not use an automated model or Interest Coverage Calculation
All applications are manually underwritten by our experienced underwriters and assessed based on the applicant(s) full financial circumstances focussing on the affordability of the proposed mortgage taking into account letting costs, taxation of rental profits and their own personal income and expenditure including any other mortgages held
3 months bank statements must be provided with the application
The stated expenditure will be reviewed in conjunction with the bank statements and/or with statistical data, as appropriate

4Existing Buy To Let details

How many other BTL's does/will your client have?

Please list all in the fields below. If your client(s) has more than 5, please contact us.

4Your Result

Please enter your personal details to complete the process below.

Name of applicant

Name of intermediary

Company name

Date

Calculate

Save as PDF