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AIMED AT INTERMEDIARIES AND INVESTMENT PROFESSIONALS ONLY
New Affordability Calculator Guidelines
(as at 29th October)
This guide explains how to use the “new look” affordability calculator on AFI.com.
The affordability calculator provides the potential loan that we will lend based on the information
provided (subject to full credit score).
The new calculator is set out in 7 stages and makes the process easy and simple to follow.
1. Applicant Details:
Please ensure that the correct details are input in order to achieve the most accurate results.
The information that needs to be entered is as follows:
Your reference number – this is for your use
Number of applicants – this should also include the number of financially dependant adults
Number of financially dependant children
Method of Repayment
Loan Term (Years/Months)
Deposit / Equity Amount –This will enable income multiple policy to be applied
Is it Isle of Man Application (Y/N) - This allows the correct tax codes to be used when
calculating net income.
Again, please ensure that the correct details are input in order to achieve the most accurate results.
The level of information that needs to be entered is as follows:
Basic Annual Income – by applicant
Other Primary Annual Income (Taxable)
Other Primary Annual Income (Non Taxable)
For each applicant.
These are then split into income types
that fall into these categories.
Secondary Annual Income (Taxable)
Secondary Annual Income (Non Taxable)
Monthly Income Deductions from Employer. There are certain deductions that are taken direct
from an applicant’s salary, such as Pension, Childcare Vouchers and Student Loan
contributions. When entered here the non-taxable elements will not be taxed. The student loan
contribution is calculated using the standard methodology as devised by the Student Loans