Mortgage Affordability Calculator
See roughly how much you could borrow for a UK mortgage. Enter your income, deposit and a rate to estimate your maximum loan, total property budget and the monthly repayment that goes with it.
Last updated 2 July 2026 · Written and reviewed by Mustafa Bilgic
Mortgage affordability calculator
Income multiples, deposit and monthly repayments.
Estimate only — figures use the latest published UK rates. Always confirm on GOV.UK.
How do lenders decide how much you can borrow?
UK lenders start with an income multiple — most cap lending at about 4.5× your annual income, sole or joint. Since the rules were loosened in 2025, some lenders now stretch to 5.5×–6× for higher earners and certain professions such as doctors and solicitors. The multiple is only the first filter, though: lenders then run a full affordability assessment, looking at your committed spending (car finance, loans, childcare), your credit history, and whether you could still pay if rates rose — the so-called stress test.
On a £38,000 salary at 4.5× income you could borrow about £171,000. Add a £30,000 deposit and your property budget is roughly £201,000 — with monthly repayments of about £950 at 4.5% over 25 years, at 85% loan-to-value.
What different incomes could borrow
| Annual income | Loan at 4.5× | Loan at 5.5× | Budget at 4.5× with £30,000 deposit |
|---|---|---|---|
| £25,000 | £112,500 | £137,500 | £142,500 |
| £38,000 | £171,000 | £209,000 | £201,000 |
| £50,000 | £225,000 | £275,000 | £255,000 |
| £70,000 | £315,000 | £385,000 | £345,000 |
Why your deposit matters so much
Your deposit does two jobs. First, it adds directly to your budget on top of the loan. Second, it sets your loan-to-value (LTV) — the loan as a percentage of the purchase price. In our example, a £171,000 loan on a £201,000 purchase is about 85% LTV. Lenders price mortgages in LTV bands, and dropping into a lower band usually means a cheaper rate, which cuts the monthly repayment on exactly the same loan. If you are saving towards a first home, a Lifetime ISA can boost your deposit — see the rules on GOV.UK.
Ways to boost what you can afford
Clear or reduce committed spending before you apply — lenders subtract car finance, loan and credit-card payments from what they will lend against. Applying jointly adds a second income to the multiple. A longer term lowers the monthly payment (though you pay more interest overall — once you have a mortgage, our mortgage overpayment calculator shows how to claw that back). And make sure your own numbers stack up before a lender checks them: our budget calculator is a good place to pressure-test the monthly payment.
What this estimate doesn't include
This is a guide to the headline borrowing, not a mortgage offer. A real lender will adjust for your outgoings, credit score, bonus or self-employed income, and their own stress-test rate. It also excludes the one-off costs of buying — stamp duty, legal fees and surveys — so run our stamp duty calculator alongside it and keep part of your savings back from the deposit to cover them.
Frequently asked questions
How many times my salary can I borrow for a mortgage?
Most UK lenders cap lending at about 4.5 times your annual income, whether you apply alone or jointly. Since rules were loosened in 2025, some lenders offer 5.5 to 6 times income for higher earners and certain professions, subject to their affordability checks.
Can we combine two incomes on a mortgage application?
Yes. Joint applicants' incomes are added together before the multiple is applied. Two people earning £38,000 and £25,000 have £63,000 combined, so about £283,500 at 4.5 times income.
How does my deposit change what I can afford?
Your deposit is added on top of the maximum loan to set your property budget, and a bigger deposit also lowers your loan-to-value (LTV). Lower LTV bands usually unlock cheaper interest rates, which cuts the monthly repayment on the same loan.
What is a mortgage stress test?
Lenders check you could still afford the repayments if interest rates rose, and they review your committed spending — loans, credit cards, childcare and other regular outgoings. That is why two people on the same salary can be offered different amounts.
Does this calculator include stamp duty or other costs?
No. The property budget shown is simply your maximum loan plus your deposit. You will also need money for stamp duty, legal fees, surveys and moving costs on top, so keep some of your savings back rather than putting everything into the deposit.