How Much Can I Borrow?

UK mortgage affordability based on salary and deposit

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Important: These are indicative estimates only. Actual borrowing depends on your outgoings, credit history, employment type, and individual lender criteria. Most lenders will also stress-test at a rate 3% above your actual rate. This is not financial advice. Speak to a mortgage adviser for your personal situation.

How much mortgage can I get on my salary?

The quick answer most people want: take your annual salary and multiply it by about 4.5. That's roughly how much you can borrow. On a £30,000 salary that's around £135,000. On £40,000 it's about £180,000. On £50,000 you're looking at £225,000. Buying with a partner? Add both salaries together first, then apply the multiple to the combined figure.

That's the starting point, not the final word. Lenders decide what you can afford using two things working together:

1. Income multiple: Most high street lenders cap borrowing at 4 to 4.5 times your gross annual income. For joint applications, both salaries are combined. Some specialist lenders offer up to 5.5x for professionals (doctors, solicitors, accountants) with high earning potential.

2. Affordability assessment: Beyond the simple multiple, lenders review your monthly outgoings (childcare, loans, credit cards, bills) to check you can actually afford the payments. They also apply a "stress test", checking you could still pay if rates rose by 2-3%.

Deposit and Loan-to-Value (LTV)

Your deposit determines your LTV ratio. A £30,000 deposit on a £300,000 property = 90% LTV. Lower LTV ratios get better interest rates:

  • 95% LTV (5% deposit), Highest rates, limited options
  • 90% LTV (10% deposit), More options available
  • 85% LTV (15% deposit), Good rate improvement
  • 75% LTV (25% deposit), Significantly better rates
  • 60% LTV (40% deposit), Best rates available

Tips to Increase Borrowing

  • Pay off outstanding debts before applying (reduces outgoings in affordability check)
  • Cancel unused credit cards (the available credit counts against you)
  • Ensure you're on the electoral roll (helps credit score)
  • Consider a longer term (35 years), lower monthly payment improves affordability, though costs more in total
  • Some lenders accept bonus/overtime income at a discounted rate

How much can I borrow on my salary? Common questions

How much mortgage can I get on a £30,000 salary? Roughly £120,000 to £135,000 on your own, using the standard 4 to 4.5x multiple. With a £15,000 deposit that puts a property around £135,000 to £150,000 within reach. Buying jointly lifts this a lot: two £30,000 salaries combine to £60,000, so £240,000 to £270,000 of borrowing.

How much mortgage can I get on a £40,000 salary? Around £160,000 to £180,000 borrowing on a single income. Add a typical deposit and you're looking at a property budget of roughly £190,000 to £210,000. This is close to the UK average salary, so it's one of the most searched figures.

How much mortgage can I get on a £50,000 salary? Expect £200,000 to £225,000 on your own. At this income some lenders will stretch to 5x (£250,000) if your outgoings are low and your credit is clean.

How many times my salary can I borrow? Usually 4 to 4.5 times. A few lenders go to 5x, and a small number offer 5.5x for certain professions or higher earners. The multiple isn't guaranteed though. Even if the sums fit, the affordability check on your actual spending has the final say.

What mortgage can I afford on my salary if I have debts? Less than the multiple suggests. Car finance, credit card balances and loans all reduce the monthly amount a lender thinks you can spare, so two people on the same salary can be offered very different amounts. Clearing debts before you apply is the fastest way to increase what you can borrow.

For monthly payment estimates on a specific mortgage amount, use our repayment calculator.