Using your current rental payments, you could be paying off an estimated loan of:
If you are currently renting, you are already making regular repayments each week or month. This calculator helps you estimate how much you may be able to borrow if your loan repayments were similar to what you are paying in rent.
Simply enter your current rent, expected interest rate and loan term. The calculator will estimate the equivalent loan amount based on those repayments. It is a practical way to explore what home ownership could look like using your existing budget.
Your rent amount is treated as a potential loan repayment. Based on the interest rate and loan term you enter, the calculator works backwards to estimate the loan size that would result in similar repayments.
It is important to remember this is a guide only. Lenders also assess income, living expenses, existing debts, credit history and deposit size when determining borrowing capacity.
At Slice Finance, we can review your results in detail and assess your full financial position. We compare options across our panel of 70 plus lenders and explain what may be achievable based on your circumstances. If you are considering making the move from renting to buying, we are here to guide you through every step.
