How much can I borrow for a mortgage? Most UK lenders start with an income multiple: usually around 4 to 4.5 times your yearly income, or your combined income if you buy with someone. They then check affordability in detail, looking at your spending, debts and how you would cope if rates rose. This guide shows what you could borrow at different salaries and what affects the answer.
At a glance
- Typical: 4 to 4.5 times your yearly income (single or joint).
- Some lenders: up to 5.5 times for higher earners.
- Example: £45,000 income × 4.5 = £202,500.
- Final answer: depends on the lender’s affordability check of your outgoings and credit.
Income multiples: the starting point
| Income (single or joint) | 4 times | 4.5 times | 5.5 times |
|---|---|---|---|
| £25,000 | £100,000 | £112,500 | £137,500 |
| £35,000 | £140,000 | £157,500 | £192,500 |
| £45,000 | £180,000 | £202,500 | £247,500 |
| £60,000 | £240,000 | £270,000 | £330,000 |
| £80,000 | £320,000 | £360,000 | £440,000 |
| £100,000 | £400,000 | £450,000 | £550,000 |
Lenders are limited in how much of their lending can be above 4.5 times income, so higher multiples are usually for higher earners, certain professions or bigger deposits.
How much can I borrow for a mortgage on my salary?
Take your yearly income before tax, add a partner’s if you are buying together, and multiply by 4 to 4.5 for a typical figure. That is the quick answer to how much can I borrow for a mortgage, but the lender’s affordability check has the final say, and it can come out lower if you have big monthly commitments.
What affects how much you can borrow?
- Income: basic salary counts in full; bonuses, overtime and commission often count at 50% or an average.
- Outgoings: loans, car finance, credit card balances, childcare and student loans reduce what you can borrow.
- Dependants: children and other dependants increase your assumed living costs.
- Deposit: a bigger deposit means a lower loan to value and more lender choice.
- Credit history: a clean record gives access to mainstream rates.
- Term and age: longer terms lower the monthly payment but must end before the lender’s age limit.
How much money can I borrow for a mortgage if I am self-employed?
Lenders usually use the average of your last 2 years’ profits, or salary plus dividends for company directors. Use our self employed mortgage calculator to see the figure lenders may use.
The same applies to how much money can I borrow for a mortgage as a contractor: many lenders work from your day rate rather than your accounts.
From borrowing to buying
What you can borrow plus your deposit sets your budget. A £45,000 salary at 4.5 times gives £202,500; with a £22,500 deposit, you could look at homes around £225,000, before costs. Work out your deposit with the mortgage deposit calculator, and if you need more, see the guarantor mortgage calculator.
Remember that the answer to how much can I borrow for a mortgage is not always what you should borrow. Check the monthly payment fits comfortably with your other bills, using MoneyHelper’s mortgage affordability calculator.
A mortgage in principle (also called an agreement in principle) gives you a lender’s answer to how much can I borrow for a mortgage before you make an offer. It usually uses a soft credit search and lasts 60 to 90 days.
How to borrow more
- Pay off or reduce debts before applying.
- Apply jointly, if it suits you.
- Choose a longer term, accepting more interest overall.
- Look for lenders that offer higher multiples to your profession or income level.
- Use a broker who knows lenders’ affordability models.
Frequently asked questions
How much can I borrow on a £30,000 salary?
Usually £120,000 to £135,000 at 4 to 4.5 times income, depending on your outgoings.
How much can a couple borrow?
Lenders add your incomes together. Two people on £30,000 each might borrow £240,000 to £270,000.
Does a student loan affect how much I can borrow?
Yes. Lenders treat repayments as an outgoing, which reduces what you can borrow, though the effect is usually modest.
Can I get a mortgage at 6 times my salary?
A few lenders offer up to 6 times for high earners or certain professions, but most cap at 4.5 to 5.5 times.