Move With Us has launched a property search engine that matches homes to a buyer’s budget and mortgage affordability.
The online tool indicates which properties a consumer can afford by displaying what their approximate monthly mortgage repayments would be as well as any shortfall in a property that is over budget.
Move With Us says it takes into account factors such as income and LTV ratio and the calculations are based on current mortgage lending practices.
It also includes the costs associated with moving, such as conveyancing and Stamp Duty.
Robin King, director of Move With Us, says: “The tool is aimed at assisting homebuyers in finding properties that are realistically within their means, based on current lending practices.
“By identifying the full range of costs associated with moving house early in the process, the calculator will save a lot of time and heartbreak.”
He adds that by providing this information, Move With Us hopes to reduce the amount of wasted hours spent by home movers during their search for a property as well as the number of property sales that fall through due to unexpected costs.