Borrowing Power Calculator

Frequently Asked Questions

Closing unnecessary and unused credit cards is a great way for your clients to begin improving their borrowing capacity. Mortgage Street will consider active credit cards to be drawn to their limits and factor in the monthly repayments, reducing your client’s borrowing capacity.

Saving for a bigger deposit will allow your clients to pay less in interest and monthly repayments while also increasing their borrowing power through securing a consistent saving record.

A client’s income, living expenses, and debts impact borrowing capacity because brokers will account for how much an individual makes, how much they have to spend monthly on living expenses and calculate debt repayments into their borrowing power determination.

A client’s credit card limit can significantly affect their borrowing capacity even if they do not use it because brokers and lenders will take the credit limits into account as debts when calculating an individual’s borrowing capacity

Yes, Mortgage Street will recognise if your clients clear their credit card balances in full every month and increase their borrowing capacity