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Finance Calculators · Advanced Hacks

The Finance Calculators 100.
Advanced Hacks

Focus: Pro tips for experienced borrowers and complex deals.

20+Questions
100%Expert Answers
FCARegulated
What is the maximum loan I can borrow based on my income?
TL;DR Find out the key factors lenders use to calculate the maximum loan amount you can borrow in the UK, focusing on income, affordability, and existing debt commitments.
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Can I consolidate only selected debts, or does it require all to be included?
TL;DR Debt consolidation doesn't usually require you to include all your existing debts. Learn how to choose which high-interest debts to combine into a single, manageable payment, and understand the risks involved.
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How does the calculator handle secured vs unsecured debts?
TL;DR Understand how our financial calculator differentiates between secured (like mortgages) and unsecured (like credit cards) debts. Learn the impact on loan eligibility and risk assessment in the UK.
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Are the results dynamically updated as I input data?
TL;DR Discover how financial calculators work. Learn if loan and eligibility results update instantly as you type data, or if you need to press submit. Understand dynamic vs static tools.
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What is the purpose of each field in the input section?
TL;DR Understand the application process. We detail the purpose of each field in the loan input section, covering personal identity, income verification, property security details, and compliance requirements for UK financial products.
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Can I add multiple credit cards or loans in the credit section?
TL;DR Yes, you must disclose all existing debts, including multiple credit cards and loans, in the credit section of any finance application for accurate affordability checks.
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How does this calculator handle missing or incomplete data?
TL;DR Discover how financial calculators manage missing or incomplete data. Learn about default values, assumptions, and error messages to ensure your results are accurate and useful.
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Are there any default assumptions made in this calculator? If so, what are they?
TL;DR Understanding the assumptions built into financial calculators is crucial. We detail the typical default settings for interest rates, loan terms, fees, and property values, explaining how these impact your estimated results.
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Can the results be exported as a PDF or shared via email?
TL;DR Understanding if you can export your financial quote results as a PDF or share them securely via email in the UK lending environment is crucial for comparison and review. We detail the standard process, focusing on security and data privacy (GDPR).
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Can I adjust the property value and loan amount to test different scenarios?
TL;DR Testing loan scenarios is helpful, but final figures depend on valuation. Learn how lenders use estimated values and why accurate valuation is crucial for specialist finance applications.
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How does the calculator handle shared ownership properties?
TL;DR Learn how our financial calculators process shared ownership properties in the UK. We explain inputs like equity share, rent, and valuation, ensuring accurate results for mortgages and bridging loans.
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What does the amortisation table show for my loan or mortgage?
TL;DR Understand what the amortisation table shows for your UK loan or mortgage. We break down how it tracks principal payments, interest, and remaining balance over time.
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Can I export the amortisation table to a spreadsheet?
TL;DR Learn how to export your loan amortisation schedule to Excel or Google Sheets. We explain the standard formats, why spreadsheets are useful for modelling repayments, and what details to look for.
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Is there an option to adjust the loan term dynamically?
TL;DR Can you adjust a loan term dynamically in the UK? We explore options for extending or shortening specialist loans like bridging finance, the costs involved, and key considerations for borrowers.
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Can I save my results for future reference?
TL;DR Wondering if you can save your loan eligibility or quote results for later? Learn how financial services sites handle saved results, quote validity periods, and privacy considerations in the UK.
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Can I compare multiple mortgage options side by side?
TL;DR Yes, you can compare multiple mortgage options side by side. Learn the best strategies for evaluating rates, fees, and terms offered by different UK lenders to secure the best deal.
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Can I compare offset vs non-offset mortgage scenarios?
TL;DR Can you compare offset vs non-offset mortgage scenarios? Yes, but it requires careful calculation. Learn how these models work and how to assess which option saves you the most money in the long term.
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Can I compare amortisation tables for multiple loan scenarios?
TL;DR Yes, comparing amortisation tables is crucial for understanding total cost, payment structure, and interest paid across different loan offers. Learn how to compare variable, fixed, and interest-only mortgages.
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How are arrears, fines, or defaults treated in the calculation?
TL;DR Learn how arrears, fines, defaults, and CCJs affect lending decisions and affordability calculations in the UK. Understand risk assessment, credit scoring, and specialist loan options.
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Can the calculator show stamp duty for buy-to-let or second homes?
TL;DR Discover if UK stamp duty calculators account for the higher rates associated with buy-to-let (BTL) or second homes. Learn how to calculate the surcharge accurately.
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Promise Money is a broker not a lender. Therefore we offer lenders representing the whole of market for mortgages, secured loans, bridging finance, commercial mortgages and development finance. These loans are secured on property and subject to the borrowers status. We may receive commissions that will vary depending on the lender, product, or other permissable factors. The nature of any commission will be confirmed to you before you proceed.

More than 50% of borrowers receive offers better than our representative examples

The %APR rate you will be offered is dependent on your personal circumstances.

Mortgages and Remortgages

Representative example

Borrow £270,000 over 300 months at 7.1% APRC representative at a fixed rate of 4.79% for 60 months at £1,539.39 per month and thereafter 240 instalments of £2050.55 at 8.49% or the lender’s current variable rate at the time. The total charge for credit is £317,807.66 which includes £2,500 advice / processing fees and £125 application fee. Total repayable £587,807.66

Secured / Second Charge Loans

Representative example

Borrow £62,000 over 180 months at 9.9% APRC representative at a fixed rate of 7.85% for 60 months at £622.09 per month and thereafter 120 instalments of £667.54 at 9.49% or the lender’s current variable rate at the time. The total charge for credit is £55,730.20 which includes £2,660 advice / processing fees and £125 application fee. Total repayable £117,730.20

Unsecured Loans

Representative example

Annual Interest Rate (fixed) is 49.7% p.a. with a Representative 49.7% APR, based on borrowing £5,000 and repaying this over 36 monthly repayments. Monthly repayment is £243.57 with a total amount repayable of £8,768.52 which includes the total interest repayable of £3,768.52.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME

REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Promise Money is a trading style of Promise Solutions Ltd – Company number 04822774
Promise Solutions, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG

Authorised and regulated by the Financial Conduct Authority – Number 681423
The Financial Conduct Authority does not regulate some forms of commercial / buy-to-let mortgages

Website www.promisemoney.co.uk