How to use the first direct mortgages online calculator

When you’re looking for your dream home, it pays to be armed with as much information as possible.

Three of the most important things you will need to find out are: what kind of mortgage you qualify for, how much you are able to borrow and – crucially – how the monthly repayments work out.

Using the first direct mortgages online calculator could prove handy for house hunters. Available at the Mortgages.firstdirect.com/calculators website, the comparison tool is designed to help various types of borrowers – first time buyers, remortgagers, and existing homeowners who are moving house – discover what loans are available to them.

The calculator asks you to input the mortgage value and what size deposit you have. You can also select fixed rate or tracker mortgage options and refine further by choosing whether you want a repayment or offset deal. Finally, you have to select the length of the mortgage term, from two to 25 years.

In this case, the lender stipulates that single borrowers should earn a minimum £30,000 annual salary to be considered for a loan. Joint borrowers should either earn a combined salary of £50,000-plus or have one partner earn at least £30,000 a year.

Another first direct mortgages calculator which is really helpful is the tool which works out how much you can borrow based on gross salary alone. It’s really simple to use – all you do is select one or two applicants and input how much you earn. The amount you should be able to borrow, subject to terms and conditions, will appear after a couple of seconds.


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