Tools · Mortgage preparation

Stress-test the household budget without pretending to know a lender’s answer.

This planner does not produce a maximum mortgage or an approval score. It helps you test whether a target mortgage fits the income and commitments you enter, see the effect of higher rates and prepare the facts a lender or adviser will eventually need.

What this can answerWhat would this mortgage payment do to my household budget?

Change the property price, deposit, rate, term and spending assumptions and see the monthly buffer move.

What it cannot answer“How much will every lender let me borrow?”

Income treatment, expenditure models, stress rates, credit policy and maximum terms differ between lenders and can change.

1 · Household income

Use the income you actually expect to rely on

Gross income is useful context. Monthly take-home income drives the private budget stress test below.

Applicant 1 gross annual income (£)Applicant 1 income typeApplicant 2 gross annual income (£)Applicant 2 income typeHousehold monthly take-home income (£)Other reliable monthly income (£)

2 · Target home and mortgage

Build the mortgage you want to test

Target property price (£)Deposit (£)Mortgage term (years)Rate to model (%)Higher rate to stress-test (%)Current rent / mortgage payment (£)

3 · Monthly commitments

Include the costs that do not disappear when you get a mortgage

Loans / cards / finance payments (£)Childcare (£)Maintenance / support payments (£)Essential living costs (£)Other fixed commitments (£)Number of dependants

Rate sensitivity

See the budget move before the rate does.

These scenarios keep the same mortgage amount and term and change only the interest rate.

Deeper repayment & overpayment calculator →

4.50%£1,334/mo

Budget remaining: +£1,066

6.50%£1,620/mo

Budget remaining: +£780

7.50%£1,774/mo

Budget remaining: +£626

What deserves attention

Turn the figures into preparation—not an approval score.

✓

The entered stress scenario leaves a positive budget buffer

£780 remains after the mortgage payment and the commitments you entered. Lenders may include different expenditure and stress assumptions.

Existing credit commitments are part of the picture

£300 a month of debt payments is included in this budget. A lender may also assess balances, remaining terms and credit conduct.

Open related preparation →

Target LTV: 80.0%

LTV can affect pricing and product availability. The deposit and valuation used by a lender can also change the final figure.

Open related preparation →

Income and term circumstances

If the income story is less standard, use the right checklist.

The budget numbers are only one part of a mortgage case. These preparation pages organise the evidence behind three circumstances already appearing in Google searches for TFP.

All mortgage circumstances →

Contractor / freelance

What financials and evidence might matter?

Organise contracts, work history and the records that match how you are actually paid.

Open contractor checklist →Parental leave

Prepare a return-to-work letter and post-leave budget

Separate temporary leave income from the agreed return date, hours, pay and childcare costs.

Open return-to-work checklist →Age & term

Mortgage running beyond retirement age?

Compare the mortgage end age with retirement income, budget and future housing plans.

Open retirement checklist →

Preparation checklist

0 of 5 areas checked

This is evidence readiness only. It does not measure mortgage eligibility.

0%prepared

Income evidence checkedPayslips/accounts/contracts and the income figures you are relying on are understood.Regular commitments checkedLoans, cards, maintenance, childcare and other recurring commitments are included.Deposit / funds understoodYou know the deposit amount and where the funds are coming from.Credit files reviewedYou have checked for errors, missed payments or other issues worth understanding before an application.Real household budget reviewedThe essential-spending figure reflects your actual household rather than an optimistic guess.

Next step

Complete the preparation gaps before relying on the numbers.

A positive budget illustration still does not mean a lender will agree the amount. The next value of a professional is applying current lender criteria to the exact income and commitments.

Open My Money Plan Ask TFP for mortgage help →

This planner is for general information and household-budget preparation. It does not calculate a maximum mortgage, perform a lender affordability assessment, check credit policy, guarantee acceptance or recommend a mortgage. Lenders can use different income treatment, expenditure assumptions, stress rates, maximum terms and credit criteria. The mortgage payments shown assume a repayment mortgage and are illustrative.