Use this calculator to find out approximately what you can afford to borrow.

The interest rate applicable to your mortgage or loan will be dependent on two main factors - the product chosen and your own personal credit history. If you are fully employed with a good record of repaying loans etc. consider your credit status to be GOOD. If you have missed 1 or more payments on a mortgage, loan or credit card in the last three years, or if you have had any County Court Judgments against you then consider your credit status to be AVERAGE. If you have been bankrupt, or have If you have missed 3 or more payments on a mortgage, loan or credit card in the last three years then consider your credit status to be POOR.

Please Note - Disclaimer

This facility is intended to be used only as a guide to the affordability of your borrowings and does not include brokers fees. Although care has been taken with the figures INTERSPACE PROPERTY BROKERS cannot be held responsible for any inaccuracies in the calculations.

Loans and Mortgages

The cheapest way to borrow money is as a first mortgage against your home.

The next cheapest option is a secured loan. This is sometimes called a second mortgage.

Next cheapest is bridging finance. Which is normally a short-term solution up to six months that is usually redeemed by way of a subsequent remortgage.

With mortgages and some secured loans, you may choose to repay "Interest Only". This means that you will still owe the original amount borrowed at the end of the repayment period, so you may have to sell the property to cover this. The other option for repayments is Capital and Interest (usually called simply a "Repayment" mortgage) which means that you will have paid off everything at the end of the repayment period.

Your Personal advisor will be happy to discuss these options with you in more detail and will make absolutely sure that you fully understand the options available.

Your home is at risk if you do not keep up repayments on a mortgage or any other loan secured on it. Please make sure you can afford the repayments before entering into an agreement.

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