Use the mortgage cost calculator to work out how much of a financial commitment you are taking on when you borrow money to buy a house. This useful calculator will help you to work out the monthly payments that you will have to make when you take out a mortgage. Change around the loan amount and the length of the mortgage to see how affordable your mortgage would be with different variables.
Don't forget that when you are taking out a mortgage, there are many more expenses than the mortgage itself. For a start you will have to pay a mortgage arrangement fee, and you may have to pay a broker fee if you are getting your mortgage through an intermediary. If you do use a broker, the fee that you pay may be counterbalanced by the fact that you could save money on the mortgage itself by identifying the right mortgage for your circumstances. The mortgage cost calculator is a useful first step in your research, but make sure you have properly planned out your finances before you go ahead with a deal.