Monthly Budget to Property Price
Most calculators ask what you earn. This one works backwards — tell us what you can afford each month, and we will show you the property price you could reach.
See how different interest rates and mortgage terms change the picture, all in one comparison table.
Your Budget
What you can comfortably pay each month
What You Could Afford
Based on £1,200/month at 5% over 25 years
Total repaid over the term: £360,000
Total interest paid: £154,728
This is an estimate based on repayment mortgage calculations. Actual lending decisions depend on your income, credit history, and lender criteria.
With £1,200/month and a £30,000 deposit, you could buy a property worth up to £235,272
At 5% over 25 years — £205,272 mortgage + £30,000 deposit
Property Price by Rate and Term
See how different interest rates and mortgage terms affect the property you could afford with £1,200/month
| Rate | 20 years | 25 years | 30 years | 35 years |
|---|---|---|---|---|
| 4.0% | £228,026£30,000 + £198,026 | £257,343£30,000 + £227,343 | £281,353£30,000 + £251,353 | £301,018£30,000 + £271,018 |
| 4.5% | £219,679£30,000 + £189,679 | £245,892£30,000 + £215,892 | £266,833£30,000 + £236,833 | £283,562£30,000 + £253,562 |
| 5.0% | £211,830£30,000 + £181,830 | £235,272£30,000 + £205,272 | £253,538£30,000 + £223,538 | £267,771£30,000 + £237,771 |
| 5.5% | £204,447£30,000 + £174,447 | £225,412£30,000 + £195,412 | £241,346£30,000 + £211,346 | £253,457£30,000 + £223,457 |
| 6.0% | £197,497£30,000 + £167,497 | £216,248£30,000 + £186,248 | £230,150£30,000 + £200,150 | £240,456£30,000 + £210,456 |
Your selected combination is highlighted. All figures assume a capital repayment mortgage.
How This Calculator Works
Instead of starting with your salary, this calculator starts with the monthly payment you are comfortable with and works backwards to find the property price.
You set the monthly payment
Enter the amount you can comfortably pay each month towards a mortgage. This is your starting point, not your income.
We reverse the mortgage formula
Standard calculators work out the payment from a loan amount. We do the opposite — we calculate the maximum loan that produces your chosen payment at a given rate and term.
Add your deposit
Your maximum property price is simply the loan amount plus your deposit. A larger deposit means a more expensive property without changing your monthly cost.
Compare across rates and terms
The comparison table shows how small changes in interest rate or mortgage term can significantly shift the property you can afford, helping you plan for different scenarios.
What Should Your Monthly Budget Be?
A common guideline is that your mortgage payment should be no more than 35-40% of your take-home pay. Here is how that looks in practice.
£2,000/month take-home
Comfortable mortgage budget: £700 to £800 per month
£2,500/month take-home
Comfortable mortgage budget: £875 to £1,000 per month
£3,500/month take-home
Comfortable mortgage budget: £1,225 to £1,400 per month
This is a guideline, not a rule. Your comfortable budget depends on your other outgoings, lifestyle, and how much financial buffer you want to keep. Lenders use their own affordability models that consider all your commitments.
How Rate and Term Affect What You Can Buy
Two factors have the biggest impact on the property you can afford from a given monthly budget: the interest rate and the mortgage term.
Longer terms mean more property
Stretching from 25 to 35 years reduces each monthly payment, which means the same budget supports a larger loan. The trade-off is you pay significantly more interest over the life of the mortgage.
Lower rates mean more property
A lower interest rate means less of your monthly payment goes to interest and more to repaying the loan. Even a 0.5% rate drop can add thousands to your borrowing capacity.
The total cost trade-off
A 35-year mortgage at 5% means you can afford a bigger property than a 20-year mortgage at the same rate — but you will pay roughly twice as much total interest over the full term.
Use the table to plan scenarios
The comparison table above shows every combination. If rates drop after you buy, you could remortgage to a shorter term and save thousands — so buying on a longer term now does not lock you in forever.
Next Steps
Now you know the property price your monthly budget could support, here is how to take things further.
Check your actual affordability
This calculator gives you a ballpark. To see what lenders would actually offer, run a full affordability check across 60+ UK lenders — no credit search required.
Check affordability across 60+ lendersSee how deposit size changes things
A bigger deposit lowers your LTV, which unlocks better rates and increases the property you can reach. Our guide breaks down exactly how deposit size affects your borrowing.
Read the deposit guideFrequently Asked Questions
How much of my salary should go on a mortgage?
A common guideline is no more than 35-40% of your net monthly income. Lenders typically use their own affordability models that consider all your outgoings, not just a percentage of income.
Does a longer mortgage term mean I can afford more?
Yes, but it costs more in total interest. A 35-year term gives lower monthly payments than 25 years, meaning you can afford a more expensive property. However, you will pay significantly more interest over the life of the mortgage.
What interest rate should I use?
Current average rates for a 5-year fixed are around 4.5-5.5% depending on your deposit size and circumstances. Use 5% as a reasonable middle estimate, but check current rates for accuracy.
Check Your Actual Affordability Across 60+ Lenders
This calculator gives you a ballpark from your budget. To see what lenders would actually approve, run a full affordability check — no credit search performed.
Check Your Affordability
