1 Loan & income detailsWhere a product fee is to be debited to the mortgage account on completion, this should be included in the advance amount and the product loan to value must not be exceeded.
Please select repayment type*
Repayment
Interest Only
Applicant 1 income (Highest salary earner)
Add second applicant
It should be noted that only half of any non-guaranteed income can be taken into consideration and a basic salary and net monthly income must be entered for at least one applicant for the income and affordability to be assessed.
2 Monthly expenditure detailsPlease fully and accurately complete the loan and income details.
Total monthly expenditure
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
This calculator will assess affordability of the case purely based on the information you input
The Society does not use an automated affordability model
All applications are manually underwritten by our experienced underwriter
3 months bank statements must be supplied with the application
The stated expenditure will be reviewed in conjunction with the bank statements and/or with statistical data, as appropriate
Where the stated expenditure does not reflect that shown on the bank statements or appears otherwise unrealistic you will be asked to submit revised expenditure details
The case will be declined where affordability cannot be proven based on realistic expenditure
Where the Loan To Value exceeds 80% there must be a surplus of £200 income over expenditure using the proposed payrate
You are strongly recommended to thoroughly verify the stated expenditure as delays may occur or the case may be declined where the information provided is deemed inaccurate. By submitting this affordability assessment to the Society you are acknowledging the above.
4 Affordability conclusion
Declined
Unfortunately based on the information submitted this case does not meet our affordability criteria. If you wish to discuss your options please call us on 0800 988 1561.
Accepted
We’re pleased to confirm that based on the information submitted this case meets our affordability criteria subject to approval by our underwriting team. Please include this affordability assessment when submitting your application.
Please enter your personal details to complete the process below.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
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