How Much Can I Borrow?
Find out how much a lender might let you borrow, what your deposit adds, what the monthly payments would be, and whether they fit your take-home pay. Works for one buyer or two.
Your finances
More detail
The payment is 35% of your take-home pay of £2,581 a month: manageable, but it will feel tight.
Another £5,750 of deposit would take you to 85% loan to value, where rates are usually lower.
Over 30 years you would repay £328,332 in total, about £1.82 for every £1 borrowed, if the rate stayed the same.
A guide only. Debts reduce your income by 2.5 times their yearly cost, a rough stand-in for lenders’ checks. Take-home assumes a 5% workplace pension. See exact payments in the mortgage repayment calculator.
How lenders decide how much you can borrow
There are three checks, and the lowest result is what you get offered.
- An income multiple. Your yearly income before tax, or both incomes for a joint mortgage, multiplied by around 4 to 4.5. This sets the ceiling.
- An affordability check. The lender looks at your regular spending, debts, childcare and other commitments, and works out what you can comfortably pay each month.
- A stress test. They check you could still pay if interest rates rose, usually by testing at a rate a few points higher than your deal.
Your credit history affects which lenders will consider you and at what rate, and the property itself must be valued at enough to cover the loan.
How much can I borrow on my salary?
This table shows borrowing at the most common multiples, and the monthly payment on a 4.5 times loan at 4.5% over 30 years (last column).
| Income | 4× | 4.5× | 5× | A month |
|---|---|---|---|---|
| £20,000 | £80,000 | £90,000 | £100,000 | £456 |
| £25,000 | £100,000 | £112,500 | £125,000 | £570 |
| £30,000 | £120,000 | £135,000 | £150,000 | £684 |
| £35,000 | £140,000 | £157,500 | £175,000 | £798 |
| £40,000 | £160,000 | £180,000 | £200,000 | £912 |
| £50,000 | £200,000 | £225,000 | £250,000 | £1,140 |
| £60,000 | £240,000 | £270,000 | £300,000 | £1,368 |
| £75,000 | £300,000 | £337,500 | £375,000 | £1,710 |
| £100,000 | £400,000 | £450,000 | £500,000 | £2,280 |
For a joint mortgage, add the two incomes together and read across. Higher multiples of 5 to 5.5 times are mostly offered to people on higher incomes or in certain professions, and Bank of England rules limit how many of those loans each lender can make.
Buying as a couple
Lenders add both incomes together, so buying with someone can almost double what you can borrow. A couple earning £32,000 and £24,000 could borrow around £252,000 at 4.5 times. That costs about £1,277 a month at 4.5%, around 34% of their joint take-home pay of £3,802.
- You do not need to be married. Friends, partners and family members can apply together, and some lenders accept up to four applicants.
- Both credit files count. One person’s poor credit history can limit the deals available to both of you.
- Part-time and variable pay. Lenders use what you actually earn. Overtime, bonuses and commission are often only partly counted, and usually need a track record.
- Think about ownership. Joint tenants own the whole property together. Tenants in common own set shares, which suits unequal deposits. A solicitor can set this up when you buy.
What your deposit gets you
Your deposit is added to what the lender offers, so it raises your budget pound for pound. It also decides your loan to value (LTV): the mortgage as a percentage of the price. A lower LTV usually means a lower rate.
| Deposit | Loan to value | What it means |
|---|---|---|
| 5% | 95% | The minimum for most lenders. Fewer deals, higher rates. |
| 10% | 90% | Many more deals become available. |
| 15% | 85% | Rates usually step down. |
| 25% | 75% | Access to much cheaper rates. |
| 40% | 60% | Usually the best rates on the market. |
How much mortgage can I get with a £30,000 deposit?
It depends on your income. The deposit does not change how much a lender will offer, it adds to it. Some examples at 4.5 times income:
| Income | Borrowing | Budget with £30,000 | Deposit |
|---|---|---|---|
| £30,000 | £135,000 | £165,000 | 18% |
| £35,000 | £157,500 | £187,500 | 16% |
| £45,000 | £202,500 | £232,500 | 13% |
| £60,000 | £270,000 | £300,000 | 10% |
Remember to keep some savings back for stamp duty if it applies, legal fees, a survey and moving costs.
What monthly repayments can I afford?
What a lender will offer and what feels affordable are not always the same. A widely used rule of thumb is to keep your mortgage payment under about 30% of take-home pay. Up to 40% is possible but tight, and above that most people struggle once bills and food are paid.
If you know what you want to pay each month, you can work backwards. At 4.5% over 30 years:
| Monthly payment | Mortgage it pays for | Take-home needed at 30% |
|---|---|---|
| £600 | £118,417 | £2,000 a month |
| £800 | £157,889 | £2,667 a month |
| £1,000 | £197,361 | £3,333 a month |
| £1,200 | £236,833 | £4,000 a month |
| £1,500 | £296,042 | £5,000 a month |
| £2,000 | £394,722 | £6,667 a month |
Choose “A monthly budget” in the calculator to do this with your own figures. It will also tell you if a lender is likely to cap you below what your budget would pay for.
Your payment will not stay the same
When the fixed rate ends
Most mortgages start on a fixed rate for two or five years, then move to the lender’s variable rate, which is usually higher. On a £180,000 loan over 25 years at 4.5%, the payment is £1,000 a month. If it moves to 7% after two years, the payment on the remaining £171,842 jumps to £1,254, about £254 more. Most people avoid this by switching to a new deal before the fix ends.
If rates rise
Your mortgage offer will usually show what you would pay if rates rose by a couple of points. The calculator shows a 3-point rise, close to the kind of test lenders use, so you can see whether you would cope.
Adding the fee to the loan
Product fees of around £999 are common, and most lenders let you add them to the mortgage. That avoids paying upfront, but you pay interest on the fee for the whole term: on a £200,000 loan at 4.5% over 30 years, a £999 fee ends up costing about £1,822.
The other costs of a mortgage
- Product or arrangement fee, often £0 to £1,500. Fee-free deals usually have a higher rate.
- Valuation fee, though many lenders include a basic valuation for free.
- Legal or conveyancing fees, plus searches and the Land Registry fee.
- Survey, which is separate from the lender’s valuation and strongly recommended.
- Broker fee, if your broker charges one. Many are paid by the lender instead.
- Funds transfer and exit fees, small charges for sending the money and closing the account.
- Stamp duty in England and Northern Ireland, or its equivalents in Scotland and Wales.
Paying off your mortgage early
Most deals let you overpay up to 10% of the balance each year without a penalty. Paying more than that, or leaving the deal early, usually triggers an early repayment charge, often a few percent of the amount repaid. Overpaying even a small amount each month can cut years off the term.
Ways to borrow more
- Pay off or reduce car finance, loans and card balances before you apply.
- Save a bigger deposit to drop into a lower loan to value band.
- Check your credit file with the main agencies and fix any mistakes.
- Make sure you are on the electoral roll at your current address.
- Choose a longer term to lower the monthly payment, though you will pay more interest overall.
- Use a mortgage broker, who can find lenders that suit your situation, including higher income multiples.
Next, see what you would pay in Council Tax on your new home, and what your pay leaves after bills with the take-home pay calculator.
Related reading: how much you can borrow, and what cuts your limit, and what a 4% base rate means for your payments.
A guide only, not a mortgage offer or advice. Lenders make their own decisions. Figures use a 4.5% rate unless stated; take-home pay assumes tax code 1257L and a 5% workplace pension.
Sources
Figures are checked against these official sources. Last reviewed 7 November 2026.
Common questions
How much can I borrow for a mortgage?
Most UK lenders will lend around 4 to 4.5 times your yearly income before tax, or your joint income if you are buying with someone. A few offer 5 to 5.5 times to higher earners and some professions. The final figure also depends on your debts, spending and credit history.
What multiple of my salary can I borrow?
Usually 4 to 4.5 times. On £40,000 that is £160,000 to £180,000. Some lenders go to 5 or 5.5 times, but regulators limit how many of those loans they can make, so you need to meet stricter criteria.
How much mortgage can I get with a £30,000 deposit?
It depends on your income, because the deposit is added to what you can borrow. On £35,000 at 4.5 times you could borrow about £157,500, so with £30,000 your budget is about £187,500, a 16% deposit.
What mortgage repayments can I afford?
A common rule of thumb is to keep the mortgage payment under about 30% of your take-home pay, and certainly under 40%. Lenders run their own affordability checks on your income and spending, which is why they may offer less than a simple multiple.
How much can a married couple borrow?
Lenders add both incomes together and apply the multiple to the total. A couple earning £32,000 and £24,000 could borrow around £252,000 at 4.5 times. You do not need to be married to apply jointly.
Do debts reduce how much I can borrow?
Yes. Car finance, loans and credit card payments reduce what lenders will offer. Some lenders also make clearing a card balance a condition of the offer. This calculator reduces your income by 2.5 times your yearly debt payments as a rough guide.
How big a deposit do I need?
At least 5% of the price for most lenders. A 10% deposit opens up many more deals, and rates usually get better again at 15%, 25% and 40% deposits (85%, 75% and 60% loan to value).
What is a mortgage stress test?
Lenders check that you could still afford the payments if interest rates went up, usually by testing at a rate a few points higher than the one you will pay. It is one reason the amount offered can be lower than four or five times income.
What happens when my fixed rate ends?
You move to the lender’s variable rate, which is usually higher, so payments go up. Most people remortgage or switch to a new deal with the same lender before the fix ends. Many lenders let you lock in a new rate several months ahead.
Should I add the product fee to my mortgage?
It spreads the cost, but you pay interest on it for the whole term. Adding a £999 fee to a £200,000 loan over 30 years at 4.5% costs about £1,822 in total, against £999 if you pay it upfront.