How long will it take to reach my goal amount?
What is your goal?
How much can you save
How much have you saved already?
Gross annual interest
rate on your savings (in %)
In order to get the most accurate results from the mortgage calculator, it's important to consider how much deposit you have available, taking into consideration other property purchase costs. Once you have worked this out, use the sliding scale to enter this amount and then the value of the property. This will then indicate the size of the mortgage which you will require.
Work out your typical monthly repayments
Based on the amount mortgage you will be borrowing, you can now find out what your monthly repayments will be. This figure will be prepopulated from the results previously entered, but is also dependent upon the number of years the repayment is made and the interest rate. These factors can be amended by moving the sliding scale.
It is worth considering how much repayment you can comfortably be able to afford, so you do not try to stretch your funds too far and make sure your budget allows for other eventualities.
This calculator is intended as a guide only and does not take into account other fees that you will be accountable for when taking out a mortgage. For advice and guidance you should speak to an independent mortgage broker/advisor, who is authorised to provide financial advice based on your specific circumstances.
Here at Bovis Homes we have a number of ways in which we can help you move into your dream home. Both first-time buyers and existing homeowners can move with just a 5% deposit using the Government-backed Help to Buy - Equity Loan. Alternatively if you have a property to sell, we’ll help you sell your old property quickly by dealing with the estate agents on your behalf, and even pay their fees when your house is sold with our Smooth Move package. Using our Home Exchangescheme will see us buy your property at market value, meaning there are no last minute ‘drop-outs’ and you avoid estate agent fees. We also have exclusive help available for members of the Armed Forces
You could reach your goal 1 year sooner
by increasing your saving amount to £6000
(an increase of £1000 per year)