The calculator will be integrated into Jitty’s property listings, enabling people to include monthly mortgage payments in search criteria and browse for a home based on the average repayments.
Users need to enter their income and deposit into the calculator, which appears on every listings page to generate a monthly mortgage payment budget indicator using insight from L&C Mortgages.
This will then be used as a filter so buyers will see homes that match their budgets. It will also show properties that might fall just outside the filter but potentially within reach of the potential buyer’s budget.
Where available, this will also include other expenses such as council tax, service charges or ground rent.
Graham Paterson, CEO and co-founder of Jitty, said: “For most people, affordability isn’t just about the asking price on a listing, it’s about the monthly cost attached to living in that home. By combining Jitty’s AI-driven search with L&C’s mortgage expertise, we’ve made it possible to view the potential costs associated with buying a property, instantly, and keep that in mind while you are browsing.
Aldermore Insights with Jon Cooper: Edition 7 – Opening doors in a tougher first-time buyer market
Sponsored by Aldermore
“This allows for a much more realistic and worry-free way of thinking when searching for your dream home.”
Donna Callaway, partnership director at L&C Mortgages, added: “Buying a home is one of life’s biggest financial commitments, and knowing exactly what you can afford each month makes that journey clearer and less stressful.
“Working alongside Jitty, we’ve put mortgage insight right at the point where buyers are choosing which homes make their shortlist – so they can make confident, informed decisions that are supported by expert advice.”
