Mortgage affordability calculator

Most UK lenders will lend around 4 to 4.5 times your income. Enter your income, your partner's income and your deposit to see roughly how much you could borrow and what price you could afford.

How much can I borrow for a mortgage?

Lenders start with your income. Most will lend between 4 and 4.5 times your yearly income, or your combined income if you buy with someone else. Some lenders go up to 5 or 5.5 times for higher earners or certain professions.

They then check affordability: your regular spending, debts and commitments, and whether you could still afford the payments if interest rates rose. Monthly debts such as loans and car finance usually reduce what you can borrow.

Example

A couple earning £45,000 and £30,000 have a combined income of £75,000. At 4 to 4.5 times income, they could borrow about £300,000 to £337,500. With a £40,000 deposit, they could afford a home of up to about £377,500. Borrowing £337,500 at 4.5% over 25 years costs £1,875.93 a month.

Deposit and loan to value

Loan to value (LTV) is the mortgage as a percentage of the property's price. A bigger deposit means a lower LTV, which usually gets you a lower interest rate. Rates often improve at 90%, 85%, 75% and 60% LTV.

Frequently asked questions

Do lenders count bonuses and overtime?

Many lenders count part of regular bonuses, commission and overtime, often 50% to 100% depending on how reliable it is. Self-employed buyers usually need two or more years of accounts.

What else do I need to budget for?

Stamp duty, solicitor's fees, a survey, mortgage fees and moving costs. Use our stamp duty calculator to work out the tax.

This is a rough guide, not a mortgage offer. Each lender has its own affordability rules. Speak to a mortgage adviser or lender for a decision in principle.