Questions, sorted
by calculator.
Short, practical answers to the questions that commonly come up when comparing home-buying scenarios. Choose the tool you are using.
Popular home-buying questions
Six quick answers for the questions that often come up before a first viewing, offer or mortgage application.
How much cash should I have before I start viewing homes?
Think beyond the deposit. Keep a separate planning allowance for the legal process, registration, any survey or valuation, insurance, moving and a small buffer for unexpected costs. The right amount depends on the property and your own position.
How do lenders decide how much I can borrow?
A lender looks at your application, income, outgoings, deposit, financial history and its own lending criteria. A calculator can help you test scenarios, but it cannot tell you what a lender will approve.
Can my mortgage repayment change after I buy?
It can depend on the mortgage product and its terms. For example, a rate or product period may change, and insurance or other housing costs can change too. Read the lender documents carefully before making a decision.
What costs sit outside the property price?
Common examples include stamp duty, solicitor or conveyancing fees, registration, survey or valuation costs, insurance and moving expenses. Ask for up-to-date quotes and keep these separate from your deposit target.
Should I use spare savings for a bigger deposit or keep a buffer?
A larger deposit reduces the amount you need to borrow in an illustration, but a cash buffer can be important for moving and unexpected expenses. Compare both scenarios and consider getting advice suited to your circumstances.
Will the calculator result match my final mortgage offer?
Not necessarily. The tools use the figures you enter for planning only. Your final offer, payment schedule and costs depend on the lender, product terms, property and your application.