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Finance Calculators · Strategy & Uses

The Finance Calculators 100.
Strategy & Uses

Focus: Smart usage, investment approaches, and case studies.

20+Questions
100%Expert Answers
FCARegulated
How does the LTV ratio affect the interest rate on my mortgage?
TL;DR Learn how your Loan-to-Value (LTV) ratio directly influences the interest rates available on your UK mortgage. Lower LTVs generally mean lower rates and better deals.
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Can I test different LTI ratios to see their impact on borrowing capacity?
TL;DR Learn how testing different Loan-to-Income (LTI) ratios affects your UK borrowing capacity for mortgages or loans. Understand lender stress testing and affordability rules.
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Can I compare LTV ratios for different property values?
TL;DR LTV is a core metric, but can you compare LTV ratios across properties with vastly different values? Learn how LTV standardises risk assessment and its limitations.
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Can I see how changing my income affects my borrowing capacity?
TL;DR Understand how changes to your income, whether increases or decreases, impact the amount you can borrow for a mortgage or loan. Use affordability calculators wisely.
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Can I input both regular monthly overpayments and lump sums?
TL;DR Learn how UK mortgage and loan rules allow you to make both regular monthly overpayments and larger lump sum contributions. Understand your annual limits and avoid Early Repayment Charges (ERCs).
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Can I see a breakdown of stamp duty costs for different property price bands?
TL;DR Get a detailed breakdown of Stamp Duty Land Tax (SDLT) costs for various UK property price bands. Understand how rates and thresholds affect your purchase.
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How does the calculator handle changes in stamp duty rates or thresholds?
TL;DR Stamp duty rules change frequently. Learn how accurate SDLT calculators instantly update thresholds, rates, and reliefs (First Time Buyer or higher rates for second homes). We explain the mechanics of dynamic updates.
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Can I input different property values to see stamp duty changes?
TL;DR Yes, you can easily use online Stamp Duty Land Tax (SDLT) calculators to model how different property values, buyer types, and circumstances affect the final tax owed. Learn how.
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How does the calculator limit overpayments to 10% per year?
TL;DR Understand how mortgage calculators model the 10% annual overpayment limit. Learn why this limit exists, how it protects you from Early Repayment Charges (ERCs), and how to calculate your maximum overpayment allowance accurately.
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Does the calculator include the impact of any stamp duty relief schemes?
TL;DR Find out if your property calculator accurately accounts for UK Stamp Duty Land Tax (SDLT) relief schemes, including First-Time Buyer and Multiple Dwellings Relief.
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Does the calculator account for regional differences in stamp duty rates?
TL;DR Stamp Duty rates vary significantly across the UK (England, Scotland, Wales). We explain how property tax calculators handle these regional differences and ensure you get the correct liability.
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Can I see the total interest saved by making overpayments?
TL;DR Want to know if you can see the total interest saved by making overpayments on your UK mortgage or loan? Learn how overpayment calculations work, where to find this data, and how to project long-term savings accurately.
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Can I compare scenarios with and without overpayments?
TL;DR Learn how to compare loan scenarios with and without overpayments effectively. Use specialised tools to calculate interest savings, evaluate term reduction, and understand key financial implications.
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What is the minimum deposit required for my property purchase?
TL;DR The minimum deposit required for your property purchase usually starts at 5% in the UK, but 10% or more is often preferred. This depends on your financial stability, property type, and lender criteria. Understand LTV.
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How does the calculator handle shared ownership schemes?
TL;DR Understand how financial calculators assess shared ownership. We detail the inputs needed—share percentage, rent, service charges—to accurately estimate mortgage affordability and total housing costs.
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Can I see a breakdown of my monthly outgoings by category?
TL;DR Want to understand where your money goes? Learn how to see a detailed breakdown of your monthly outgoings by category using banking apps, budgeting tools, and manual tracking methods.
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How does the calculator factor in savings to offset the mortgage balance?
TL;DR Learn how mortgage offset calculators use your linked savings to reduce the effective principal and lower your interest payments, potentially saving you thousands over the term.
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Can I input varying savings amounts over time?
TL;DR Yes, many UK savings accounts offer flexible deposits, but some fixed-term ISAs require specific rules. Learn about easy access, regular saver, and fixed-term account variations.
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How does the calculator handle changes in savings or withdrawals?
TL;DR Learn how financial calculators model fluctuations in your regular deposits or unexpected withdrawals. Understand the impact on future balances and interest earnings.
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How does the calculator handle joint applications with multiple incomes?
TL;DR Learn exactly how financial calculators process joint applications, combining multiple incomes and shared debts for affordability assessment in the UK.
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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