What will life after moving cost?

A lender’s maximum and a comfortable household budget answer different questions. Use take-home income and the spending you expect after moving.

Start with the whole monthly bill

• Mortgage (a loan secured on your home), plus shared-ownership rent or equity-loan charges if relevant.
• Council Tax, energy, water, insurance and communications.
• Food, transport, childcare, dependants and debt repayments.
• Service or estate charges, maintenance and repairs.
• Annual or irregular bills divided by 12, personal spending and planned saving.

Replace estimates with statements, quotes and property-specific information. Check you have not included the mortgage twice or kept current rent in the future household budget.

Try a change in rate and term

A longer term can reduce monthly payments while increasing total interest. A higher rate can reduce or remove the money left over. The calculator includes a rate two percentage points higher as an illustration; it is not a lender’s stress test or a forecast.