Borrowing Power Calculator
A borrowing power calculator estimates how much you could borrow based on the repayments you can afford. Enter your income, housing costs, other commitments, an affordability share and an assumed APR to see an estimated loan amount.
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Enter your numbers and press Calculate. Nothing you type leaves your browser.
How this calculator works
Borrowing power is the loan amount that a given monthly repayment supports at a given rate and term.
Income available = gross monthly income * affordability share.
Monthly amount for the loan = income available - other monthly commitments.
Borrowing power P = M * (1 - (1 + r)^-n) / r, where r is the annual rate / 12 / 100 and n is the term in months. At 0% this becomes P = M * n.
- M = monthly amount available for the new loan
- The lower and higher affordability rows show how the estimate changes if you use 30% or 40% of income.
This is a planning estimate, not an offer. Enter the APR you were quoted; lenders apply their own affordability and credit checks.