**** Designed specifically for the UK market ****
* Can you afford to buy that dream house?
* How much of your monthly salary is left if mortgage rates move up to 7%?
* What is the overall cost of moving house?
My Mortgage Mate answers these as well as many other home buying and mortgage related questions.
Simply enter your personal details once such as savings, salary and current home value. Then enter the price of the house you are interested in and leave My Mortgage Mate to do the rest.
My Mortgage Mate will automatically calculate the stamp duty (based on current UK Inland Revenue tax rates) as well as the estate agents fee due on the house you are selling.
The innovative analysis screen shows at a glance your current home finance situation, with information such as current equity, deposit available, mortgage required to fund the new house, and the salary multiple of the new mortgage.
The mortgage screen allows you to compare different mortgage rates, both repayment and interest only, together with affordability information such as the amount of monthly salary remaining after paying the new mortgage.
My Mortgage Mate will always be in your pocket, so whenever you see a house you are interested in, simply enter the price and My Mortgage Mate will give you an instant analysis.
This version is a major app update:
-User Interface updated for the various iPhone screen sizes.
-Stamp Duty rates updated to reflect current rates.
Ratings and Reviews
Excellent for giving clear cost of buying a home
This application covers all the main details of buying and selling a house. The settings are really useful for putting all the information that remains the same, income, savings etc. and if you're selling a house you can put in cost of estate agents, solicitors and expected selling price. You can then put in purchase price of new home and the app efficiently calculates all the costs associated, stamp duty, mortgage repayments etc.
It's also really good for the first time buyer to see how much it will cost to purchase their home.
The analysis page provides a "cost of moving" which gives a very stark statement of how much the act of moving home will actually cost you.
Once you have all the basics set up as prices fluctuate and mortgage deals are struck it is really easy to change the odd value and get a quick update of where you stand. I think it's a very useful app to have in the pocket as something always changes when you're buying and selling houses and this allows you to stay in control of the finances and make sure you understand you're loan to value ration, the percentage of deposit you're putting down etc. I've found it really useful in the last couple of days since downloading it.
Excellent Mortgage Calculation Tool
This little app is a gem. Not only does it work out your mortgage costs but it also keeps track of all the other costs involved in moving home like Stamp Duty, Solicitors Fees, Estate Agents Fees and even the moving costs. It therefore gives you a total overview of how much its going to cost you to buy that new home. Much better than the other 'Mortgage' calculators available!! Don't buy your new home without it.
Very useful if moving house.
This app is easy to use and has been very useful. It is great to have all the mortgage info in one place and to hand on the phone. I would recommend this to anyone thinking of moving house.
Up to six family members will be able to use this app with Family Sharing enabled.