How to use the Nationwide mortgages calculator

If you’re searching for your ideal home, first and foremost you will need to know how much you can borrow.

An online mortgage calculator is a really handy tool for homehunters as it can provide you with a free, no obligation estimate of the loan amount potentially available to you.

Nationwide’s mortgages calculator is particularly helpful, as it offers plenty of options so you can get a tailor made quote.

First of all, the site will ask you what type of borrower you are - you can choose in the drop down menu from ‘first time buyer’, ‘home mover’, ‘remortgage’ or ‘further advance’. Next, you can select either a sole or joint mortgage.

You will then be asked for details of the amount you need. You can either input the approximate property value and the desired loan amount, or instead you can enter the total sum of the deposit you have saved or intend to save.

The calculator will also need to know some personal information such as date of birth, number of children under the age of 18, employment status, retirement age, and whether you have any additional income for example, a pension or benefits. If you have opted for ‘joint mortgage’, you will need to input your partner’s details, too.

The next pages will ask you to input your gross salary details, along with bonuses, followed by information about any loans or credit cards you might have.

Nationwide mortgages calculator will then display the total amount which could be available for you to borrow.

Bear in mind that if you make an application it will be subject to terms and conditions including your credit score and proof of the income you stated.

The great thing about online mortgage tools is that you can change the amount required or deposit saved to get different estimates, which can really help you to plan towards getting your dream home!


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