Estimate your maximum mortgage based on your income, deposit, and monthly commitments. UK lender rules applied.
UK mortgage lenders typically use an income multiple of 4 to 4.5 times your annual salary to determine the maximum mortgage they'll offer. Some lenders may stretch to 5 or even 5.5 times income for high earners or professionals in certain fields. For joint applications, both salaries are usually combined before applying the multiple.
Beyond your income, lenders look at your monthly outgoings — credit card payments, loan repayments, car finance, childcare costs, and general living expenses. They also "stress test" your ability to afford repayments if interest rates rise, typically by adding 3% to the current rate. High levels of existing debt can significantly reduce how much you're offered, even if your salary is high.
Most UK lenders require a minimum deposit of 5% of the property price, but putting down 10-15% or more unlocks significantly better interest rates. The more deposit you have, the lower your loan-to-value (LTV) ratio, which means less risk for the lender and cheaper deals for you. Use our mortgage calculator to see how different deposit amounts affect your monthly repayments.
Pay off existing debts before applying — clearing a credit card with a £100 monthly minimum payment could increase your borrowing by £20,000-£25,000. Check your credit report for errors, avoid taking on new credit in the six months before applying, and make sure you're on the electoral roll. If you're just short of what you need, consider a longer mortgage term (which reduces monthly payments) or look at specialist lenders who may offer higher income multiples.