How Much Can I Borrow?
A realistic estimate of the mortgage you could borrow, based on how UK lenders actually assess income, commitments and deposit - and the property price that puts within reach.
How lenders actually decide the number
The old shorthand - "you can borrow four and a half times your salary" - is still a decent first approximation, and it's what this calculator uses for its headline figure. But since 2014, UK lenders have been required to run full affordability assessments rather than lean on a simple multiple. They look at your income, your regular commitments, your household spending, and then stress-test whether you could still pay if rates rose several points above the deal you're applying for.
That's why two people on identical salaries can be offered very different amounts. Car finance of £300 a month, nursery fees, or heavy credit card balances all shrink the answer - in our calculator, every £100 of monthly commitments knocks roughly £10,000 off the estimate, which mirrors how lender models tend to behave.
What moves the number most
- Clearing monthly debts before applying often adds more to your borrowing power than a pay rise of the same size - our loan calculator shows what clearing a loan early would cost.
- A bigger deposit doesn't just raise your budget pound for pound - dropping below 90% or 85% loan-to-value unlocks noticeably cheaper rates.
- Income type matters. Basic salary counts in full; bonuses, overtime and self-employed profits are usually averaged and sometimes only partially counted. Contractors and the self-employed typically need two years of accounts. MoneyHelper's affordability guide covers the edge cases well.
Combined income £62,000, £400/month of commitments, £30,000 deposit. Adjusted income ≈ £52,400, giving a typical estimate of about £236,000 (range £210,000-£262,000) and a property budget around £266,000. At 5% over 25 years the mid estimate costs roughly £1,380 a month - the real question is whether that fits your budget, not whether a lender will say yes.
Frequently asked questions
How many times my salary can I borrow for a mortgage?
Most UK lenders offer between 4 and 5 times annual income, with 4.5× the common midpoint. Higher multiples (5.5×) exist for high earners and certain professions, but affordability checks and stress tests decide the real figure, not the multiple alone.
Does my partner's income count towards a joint mortgage?
Yes - joint applications combine both incomes before the multiple is applied, which is why buying with a partner typically doubles your budget. Both applicants' debts and credit histories are assessed too.
How do loans and credit cards affect how much I can borrow?
Regular commitments are deducted from the income lenders are willing to multiply, so £300 a month of car finance can reduce a mortgage offer by £25,000-£30,000. If you can clear short-term debts before applying, it usually pays for itself.
Is this calculator a mortgage decision or agreement in principle?
No - it's an educated estimate using typical lender arithmetic. For a figure you can house-hunt with, get an Agreement in Principle from a lender or broker; it involves a credit check and takes about 15 minutes.
How much deposit do I need to buy a house in the UK?
The practical minimum is 5% of the purchase price, but rates improve in steps at 10%, 15% and 25% deposits. On top of the deposit, budget for legal fees, surveys, and stamp duty where it applies.