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Buy-to-let Affordability Calculator

Want to know if your client could get a buy-to-let mortgage with us?

Before submitting a decision in principle why not use our handy affordability calculator to check how much your client could borrow, the minimum rental cover needed and whether they can include personal income.

Mandatory*

How much could my client borrow and what is their required minimum rental income?

We were unable to submit the form. Please check you have entered the details correctly and amend the fields highlighted in red.

Please select whether your client is applying for a Buy to let mortgage in their own individual name, including Partnerships and Limited Liability Partnerships (LLPs) or a company name i.e. Private (Ltd) and Public (PLC) company.

Please select an applicant type

Please select whether the property your client is looking to mortgage is a single residential unit (including multi-unit freehold) or HMO.

Please select a property type

Enter the total amount your client wishes to borrow. Remember to include any fees they want to add to the loan.

Please enter your loan amount

Enter the expected monthly rental income for the property your client wishes to mortgage.

Please enter your monthly rental income

Please select how many years your client would like to pay this mortgage off over.

Please select a term

Please select whether your client would like to pay the loan on an Interest Only or Capital Repayment basis.

Please select a repayment type

This is the rate at which a payment will be assessed at for ICR/DSCR. For Term variable Rate and Fixed Rate <5 years, the stressed interest rate is the higher of 1) pay rate + 2%, or 2) 5.5%. Or for Fixed Rate 5+ years, the stressed interest rate is the higher of 1) pay rate, or 2) revert rate + 0.75%

Please enter the affordability stress rate

Please select whether your client would like to include their annual income in the calculation.

Please enter your client's annual earned income and their outgoings.

If any of your client’s income is from UK buy-to-lets in their personal name, see our Tax Changes Impact Calculator to work out the potential impact on their income.

Enter your client’s gross taxable income. For a full list of acceptable and additional income please view our lending criteria.

Please enter your annual earned income

Please enter your client’s current total outstanding credit card and mail order balances.

Please enter the value of your outstanding credit card balances

Please enter your client’s monthly payment amount for all outstanding loans. Remember to include secured (second charge), unsecured, hire purchase payment(s), deferred payment arrangement(s) and student loans.

Please enter the value of your outstanding loan payments

Please enter your client’s monthly residential mortgage or rental payment. Remember if you anticipate that the client’s circumstances are likely to change (moving to another residential property or into rented accommodation) then this should be reflected in the monthly mortgage or rental payment provided.

Please enter the value of your total monthly mortgage or rental payments

Based on the information provided, this enquiry meets our affordability criteria.

ICR-ESI-IO: {{ calculationResults.DebtServicingCoverRatio.InterestOnlyExcludingIncomeDisplay }} ICR-ISI-IO: {{ calculationResults.DebtServicingCoverRatio.InterestOnlyIncludingIncomeDisplay }} DSCR-CR: {{ calculationResults.DebtServicingCoverRatio.CapitalRepaymentDisplay }}

ICR-ESI-IO is the Interest Cover Ratio, excluding surplus income on interest only. ICR-ISI-IO is the Interest Cover Ratio, including surplus income on interest only. DSCR-CR is the Debt Service Cover Ratio on capital repayment.

The maximum Aldermore will lend on this enquiry is

{{ calculationResults.MaximumLoan }}

The minimum coverage required for this enquiry is

{{ calculationResults.MinimumCoverage }} per month

As long as rental covers {{ calculationResults.MinimumRent }} per month personal income and expenditure can be included. This could increase the maximum Aldermore would lend

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  • 0333 321 1000

Based on the information provided, this enquiry does not yet meet our affordability criteria.

ICR-ESI-IO: {{ calculationResults.DebtServicingCoverRatio.InterestOnlyExcludingIncomeDisplay }} ICR-ISI-IO: {{ calculationResults.DebtServicingCoverRatio.InterestOnlyIncludingIncomeDisplay }} DSCR-CR: {{ calculationResults.DebtServicingCoverRatio.CapitalRepaymentDisplay }}

ICR-ESI-IO is the Interest Cover Ratio, excluding surplus income on interest only. ICR-ISI-IO is the Interest Cover Ratio, including surplus income on interest only. DSCR-CR is the Debt Service Cover Ratio on capital repayment.

As a lender who assesses each case individually, your client has the following options available to them:

Increase the total coverage required to service this enquiry to

{{ calculationResults.MinimumCoverage }} per month

As long as rental income covers {{ calculationResults.MinimumRent }} per month, personal income and expenditure can be included to cover the remaining {{ calculationResults.RentalGap }} per month for this enquiry

The minimum rental income required for this enquiry is {{ calculationResults.MinimumRent }} per month

Reduce the loan amount to {{ calculationResults.MaximumLoan }} - this is the maximum Aldermore will lend on this enquiry

  • Download these details
  • Email Us
  • 0333 321 1000

FOR INTERMEDIARY USE ONLY

These results are indicative and are meant to be used as a guide only. Should your client wish to progress this or any other enquiry to DIP, it will be subject to our full lending criteria and underwriter review which could result in a different response to the one provided here. This calculator takes Aldermore’s rental cover stress test (DSCR calculation) into account, which has been updated to reflect our interpretation of the PRAs supervisory statement, 2016. Full details of our affordability calculations and hurdles can be found in our lending criteria.

Please note by changing the loan amount figure you may change the loan to value required, which in turn may change the interest rate charged. Input of the correct stress rate is the sole responsibility of the user and will not be automatically calculated. Not updating all the fields could impact the results of this enquiry and lead to a different affordability decision at DIP stage. If you are going to change any of the figures Aldermore strongly recommends a new calculation is undertaken and you check the stress rate input is correct.

IF YOUR CLIENT FAILS TO KEEP UP PAYMENTS ON THEIR MORTGAGE A "RECEIVER OF RENT" MAY BE APPOINTED AND/OR THEIR RENTAL PROPERTY MAY BE REPOSSESSED

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