How Much Can I Borrow for a Mortgage in the UK? Salary Multiples Explained (2026)

"How much can I borrow?" is usually the first question anyone buying a home in the UK asks. Most lenders still start from a simple multiple of your income, often 4 to 4.5 times. But the real answer depends on affordability checks, your deposit, your debts and the rules set by the Bank of England and the Financial Conduct Authority (FCA). This guide explains how UK lenders work it out, with worked examples, so you can go into a mortgage conversation with realistic numbers.

To see the monthly payment on any loan amount, use the free >UK Mortgage Calculator.

The quick answer

Most UK lenders will lend around 4 to 4.5 times your gross annual income. Some lenders go to 5 or 5.5 times for higher earners or certain professions. As a rough guide:

Gross household income 4× income 4.5× income 5× income £25,000 £100,000 £112,500 £125,000 £30,000 £120,000 £135,000 £150,000 £40,000 £160,000 £180,000 £200,000 £50,000 £200,000 £225,000 £250,000 £60,000 £240,000 £270,000 £300,000

These are starting points, not promises. A lender can offer less, sometimes a lot less, after its affordability check.

Why 4.5 times income is so common

Since 2014 the Bank of England's Financial Policy Committee (FPC) has had a loan-to-income (LTI) flow limit: no more than 15% of new mortgages can be at 4.5 times income or more. That cap keeps most lending below 4.5×. In July 2025 the FPC changed how the limit works: individual lenders can now go above 15% as long as the market as a whole stays within 15%, so higher multiples have become a little easier to find. Sources: >Bank of England – Financial stability and >PRA – Review of the LTI flow limit (July 2025).

The affordability check: what lenders actually look at

Under the FCA's mortgage rules (MCOB), lenders must check that you can afford the loan, not just apply a multiple. They look at:

• Income: basic salary, plus a share of bonus, overtime or self-employed profit (usually based on 2 years of accounts).
• Committed spending: loans, car finance, credit card balances, student loan repayments, childcare and maintenance.
• Household spending: bills, council tax, food and travel, often based on ONS data.
• Interest rate stress: whether you could still afford the payments if interest rates went up.
• Credit history: missed payments, defaults or CCJs can reduce what you are offered or which lenders will accept you.

So two people on £40,000 can be offered very different amounts. One with £400 a month of car finance might get £150,000, and one with no debts might get £180,000 or more.

Joint mortgages

For a joint application, most lenders add both incomes together and apply the multiple. Two people earning £30,000 and £25,000 have a combined £55,000, so 4.5× is about £247,500. Both incomes and both sets of debts are checked.

Worked example: £35,000 salary

• Gross salary: £35,000
• 4.5× income: £157,500 maximum loan
• Deposit: £20,000
• Maximum property price: about £177,500
• Loan-to-value: £157,500 ÷ £177,500 ≈ 89% LTV

At a 4.5% rate over 30 years, a £157,500 repayment mortgage costs about £798 a month. Check the figure for different rates in the >mortgage calculator. Then compare it with your real monthly take-home pay from the >Take-Home Pay Calculator. On £35,000 that is roughly £2,390 a month, so the mortgage would be about a third of it.

Your deposit matters as much as your income

The loan-to-value (LTV) ratio decides which rates you can get:

• 95% LTV (5% deposit): available, but with higher rates and stricter checks
• 90% LTV: more choice
• 75% LTV and below: usually the best rates

A bigger deposit does not raise how much you can borrow, but it raises the price you can pay and lowers the interest rate. That, in turn, can help you pass affordability.

Don't forget the upfront costs

Besides the deposit, budget for:

• Stamp Duty Land Tax in England and Northern Ireland. From April 2025, first-time buyers pay nothing up to £300,000 on homes costing up to £500,000. See >GOV.UK – Stamp Duty rates, our guide How is stamp duty calculated?, and the >Stamp Duty Calculator. Scotland (LBTT) and Wales (LTT) have different rules.
• Solicitor/conveyancing: often £1,000 to £2,000.
• Survey: £400 to £1,500.
• Mortgage arrangement fees: £0 to £1,500 or more.

Ways to improve what you can borrow

1. Clear or reduce debts before applying, especially car finance and credit cards.
2. Check your credit file with the main credit reference agencies and fix any errors.
3. Register on the electoral roll at your current address.
4. Use a longer term (e.g. 35 years). This lowers payments and can help affordability, but you pay more interest in total.
5. Look at schemes: for example, a >Lifetime ISA for a 25% government bonus on savings for a first home up to £450,000.
6. Speak to a whole-of-market mortgage broker. Lenders' criteria vary widely.

Self-employed and contractors

If you are self-employed, lenders usually ask for at least two years of accounts or SA302 tax calculations with matching tax year overviews from HMRC. You can download these from your >Personal Tax Account. Sole traders are usually assessed on net profit. Company directors may be assessed on salary plus dividends, or on their share of company profit, depending on the lender. Day-rate contractors are often assessed on their day rate × 5 days × 46 to 48 weeks. If your profit fell in the latest year, many lenders will use the lower figure, so get your figures ready early and consider a broker who knows self-employed cases.

Student loans and borrowing

Lenders count student loan repayments as an outgoing, which reduces your affordability. To see how much yours costs each month, use the >Student Loan Repayment Calculator.

FAQs

How much can I borrow on a £30,000 salary?

Usually between £120,000 and £135,000 (4 to 4.5×), depending on your debts and the lender's checks.

Can I get 5 times my salary?

Some lenders offer 5 to 5.5× to higher earners, certain professionals or buyers with large deposits. The Bank of England limit means these loans are rationed.

Does my partner's income count?

Yes, on a joint mortgage. Lenders usually combine both incomes and check both sets of debts.

Is a mortgage in principle a guarantee?

No. A mortgage in principle (or decision in principle) is an estimate. The full application includes the full affordability and credit checks.

Does bonus or overtime count?

Often partly. Many lenders use 50% of regular bonus or overtime, but policies vary.

What is a good monthly mortgage payment?

There is no official rule. Many advisers suggest keeping housing costs below about a third of your take-home pay.

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Figures were checked against GOV.UK, the Bank of England and the FCA in October 2026. This is general information, not mortgage or financial advice. Your home may be repossessed if you do not keep up repayments on your mortgage.