Using the Purplebricks mortgage affordability calculator, determine the maximum borrowing amount for a first-time buyer. Assume a property value of £250,000 in Greater London, with estimated council tax of £100/month and monthly bills of £200. The buyer has an annual income of £50,000, a deposit of £20,000, and no existing monthly commitments. State the maximum borrowing amount and any key disclaimers.
Navigate to purplebricks.co.uk Click on the 'Mortgages' link in the main navigation. Locate and click on the 'Mortgage calculator' or 'Compare rates' link to access the calculator. Input '250,000' for the 'Value or budget' field. Click the 'Select location combobox' and then select 'Greater London'. Input '100' for the 'Council tax estimate' field. Input '200' for the 'Monthly bills estimate' field. Click the 'Continue' button. Input '50,000' for the annual income (this will be on a subsequent page). Input '20,000' for the deposit amount (this will be on a subsequent page). Ensure 'No' is selected for existing monthly commitments (this will be on a subsequent page). Identify and extract the maximum borrowing amount displayed by the calculator. Note any disclaimers or assumptions mentioned on the calculator page regarding the results.
Successfully navigate to the mortgage affordability calculator. Input '250,000' for the property value/budget. Select 'Greater London' as the location. Input '100' for the council tax estimate. Input '200' for the monthly bills estimate. Input '50,000' for the annual income. Input '20,000' for the deposit amount. Confirm no existing monthly commitments are selected. State the exact maximum borrowing amount calculated. Identify and state any disclaimers or important notes about the calculator's results.