Mortgage Calculator

🏡 Why Use a Mortgage Calculator for a New Build?

Buying a new build comes with different costs and opportunities compared to older homes — from developer incentives to Help to Buy (or similar) schemes, staged payments, and more energy-efficient designs that can affect your monthly budget.

Our Mortgage Calculator helps you explore:

• How much house you can afford based on your income and expenses

• How interest rates affect repayments over time

• Monthly mortgage repayments, based on realistic property prices for new builds

• The impact of changing your deposit amount or loan term

Whether you're planning ahead or house hunting now, it’s the easiest way to get clarity and confidence in your next steps.

🔍 What Makes Our Mortgage Calculator Different?

Unlike generic tools, our calculator was built with first-time buyers and new builds in mind:

• Simple to use with clear inputs and instant results

• Downloadable spreadsheet lets you test multiple scenarios side by side

• Fully customisable — adapt it for joint applications, longer-term planning, or different types of mortgages

• BONUS: Includes a built-in Down Payment Savings Tracker (available on a separate page)

❓FAQs About Our Mortgage Calculator

Is this tool really free to use?
Yes! The online calculator is completely free, and you can also download the spreadsheet version at no cost.

Can I use this calculator if I’m buying with someone else?
Absolutely. Just combine your incomes and expenses to get an idea of your shared budget. The downloadable version is great for testing joint scenarios.

What if interest rates change?
You can test different rates in real-time. The downloadable spreadsheet allows for detailed forecasts if you're trying to plan for rate rises or fixed terms ending.

Does this work for Help to Buy or first-time buyer schemes?
Yes — just enter the deposit you're planning to put down (including equity loans if applicable) and adjust the loan amount accordingly. For Help to Buy, you may want to tweak the loan values in the spreadsheet version.

Do I need to enter personal data to use it?
Nope! The online version works instantly — no login required. Only the download form asks for your email so we can send you the calculator.

Can this help me budget for other buying costs (stamp duty, legal fees, etc)?
The downloadable spreadsheet includes optional fields where you can factor in extra costs — useful for seeing the bigger picture beyond your monthly payments.

✅ Checklist: What to Prepare Before Using a Mortgage Calculator or Applying for a Mortgage

Before diving into your numbers with our mortgage calculator or downloadable spreadsheet, it helps to gather a few key details. Having these ready will give you more accurate results and help you stay one step ahead in your home-buying journey:

• Net monthly income (after tax)

• Monthly expenses (bills, loans, subscriptions, etc.)

• Estimated deposit/savings available

• Expected price range for your new build property

• Preferred mortgage term (e.g. 25 or 30 years)

• Current mortgage interest rate trends (fixed or variable)

• Any other income (e.g. bonuses, freelance work, rental income)

You can input all of these into the calculator tool directly or explore more advanced breakdowns in the mortgage repayment spreadsheet, which is free to download.

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📈 How to Interpret Your Mortgage Calculator Results — And What to Do Next

Once you’ve used the online mortgage calculator or the downloadable spreadsheet, you’ll see an estimate of your monthly repayments based on the inputs you’ve entered.

Here’s what to look for:

• Monthly Repayment Amount – Can you comfortably afford this based on your current lifestyle?

• Total Interest Paid Over Time – Useful when comparing fixed vs variable rates or longer vs shorter loan terms.

• Affordability Gap – Use the spreadsheet to experiment with what happens when you increase your deposit or reduce the term.

• Stress Testing – Try adjusting the interest rate in the spreadsheet to see how rate rises might impact future repayments.

📥 Tip: Download the mortgage repayment spreadsheet to test different combinations of income, deposit, and loan term — all in one place, with editable fields.

Next steps:

1. Review your budget and savings goals

2. Talk to a mortgage advisor with your figures in hand

3. Use the downloadable spreadsheet to track your progress month to month

💡 Tips for First-Time Buyers Looking at New Builds

New build homes offer great perks — they’re energy-efficient, chain-free, and often come with warranties or incentives. But they also come with specific financial considerations that make using a mortgage calculator or spreadsheet tool even more important.

Here are some things to keep in mind:

• Factor in extras like service charges or upgrades — these can affect your monthly affordability

• Use the spreadsheet to compare different new build developments and forecast your repayments over time

• Time your application wisely — mortgage offers usually last 6 months, which fits most new build timelines

• Check eligibility for new build-specific mortgage schemes and test how they impact your deposit and repayments

• Account for staged payments if buying off-plan — use the downloadable spreadsheet to plan your cash flow accordingly

🧮 Our free mortgage calculator and spreadsheet tools help you stay in control of your finances from the moment you start viewing properties through to exchange and completion.