How much can I borrow for a mortgage?
As a rule of thumb, around 4 to 4.5 times your annual income, with some lenders stretching to 5 or 5.5 times for the right circumstances. But the multiple is only the start, your outgoings, credit commitments, dependants and how your income is structured all move the real figure.
What moves the number
- Income multiples: joint applications combine incomes. Higher multiples (5 to 5.5×) are typically reserved for higher earners, certain professions, or specific products.
- Commitments: loans, car finance, card balances and childcare costs all reduce borrowing, sometimes dramatically. Clearing a £300/month car payment can add tens of thousands to what you can borrow.
- Income type: basic salary counts in full; bonus, overtime and commission are counted at 50 to 100% depending on lender. Self-employed income depends on how it's assessed, see one year of accounts and CIS mortgages.
- Stress testing: lenders check you could still afford payments if rates rose, which caps borrowing independently of the multiple.
Why two lenders give very different answers
Each lender's affordability calculator weighs these factors differently. The same couple can legitimately be offered £220,000 by one lender and £280,000 by another on the same day. If your borrowing is tight for the home you want, lender choice is the lever.
Get a number you can rely on
Our affordability calculator gives a rough range in ten seconds. For a figure estate agents will take seriously, a Decision in Principle takes a day or two, Debbie can usually sort one after a single call.
"Never let one bank's calculator decide your budget, it's one opinion among ninety. When borrowing is tight I run the case across multiple lenders' affordability models, and the spread regularly surprises people."
Related questions
This page is general information, not personal advice. Whether a mortgage is available and suitable depends on your individual circumstances. Lender criteria and rates change regularly. Your home may be repossessed if you do not keep up repayments on your mortgage.
Quick answers
Do joint applicants double the borrowing?
Roughly - lenders combine incomes, so two £30,000 salaries borrow similarly to one £60,000. Both applicants' commitments and credit histories count too.
Does a bigger deposit mean I can borrow more?
Indirectly. Borrowing is driven by affordability, but a bigger deposit lowers the loan-to-value, which can unlock products with more generous criteria.
Is a Decision in Principle a guarantee?
No - it's an initial check, usually via soft search. The full application verifies documents and can differ, which is why preparation matters.
Got a question? Ask Debbie
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