The How Much Can I Borrow calculator provides an indication of your general borrowing capacity based on a number of factors such as your income, expenses and the rate you have entered.
Each lender needs to consider your total financial position when deciding to approve your loan. South West Lending Solutions adopt the same lending polices as the lenders on our panel when it comes to assessing your ability to afford the loan amount you seek. This ensures consistency and an accurate assessment of your home loan to ensure that your loan is approved first time.
Please remember that there are many different factors within lending criteria that are taken into consideration during the home loan application process that may alter your borrowing power.
HOT TIP! Most lenders assess your capacity to repay your loan based on an assessment rate of around 7.50% This is to ensure that you can afford any interest rate rises in the future. Use a rate of 7.50% for a more accurate result.
PLEASE NOTE:- The results from this calculator are only intended to be used as a guide only. Your capacity to repay a loan varies from lender to lender. South West Lending Solutions highly recommend that you seek a pre-approval before signing a contract for sale on any property. Use the form below to start your loan application today!