It's usually the first question anyone asks, and the honest answer is: it depends on the lender. Different lenders can offer very different amounts to the same person, so where you apply matters as much as what you earn.
The rule of thumb: 4 to 4.5 times your income
Most UK lenders will lend around 4 to 4.5 times your annual household income. So on a joint income of £60,000 you might borrow roughly £240,000–£270,000. Some lenders go up to 5 or even 5.5 times income for higher earners or certain professions (for example doctors, lawyers, accountants and some newly qualified professionals).
It's really about affordability
Income multiples are only the starting point. Lenders run a full affordability assessment that looks at:
- Your regular income, including how they treat bonus, overtime, commission or self-employed profits
- Monthly commitments such as loans, car finance, credit cards and student loan repayments
- Childcare costs and the number of dependants
- Your credit history
- A 'stress test' to check you could still afford payments if rates went up
How to increase what you can borrow
- Clear or reduce credit card balances and small loans before applying
- Make sure you're on the electoral roll and check your credit report for mistakes
- Choose a longer mortgage term (this lowers monthly payments, though you pay more interest overall)
- Use a broker who knows which lenders treat your type of income most generously
- Consider a joint application or, in some cases, a joint borrower sole proprietor mortgage with a family member
Expert tip: Two lenders can give the same person a difference of tens of thousands of pounds. As brokers we check which lenders will offer the most for your situation before anything touches your credit file.
Try the calculator, then talk to a human
Our mortgage affordability calculator gives you a quick estimate based on 4.5x income. For a proper figure, get a Mortgage in Principle — I can arrange one for free.
This guide is general information, not personal advice. Figures are correct at the time of updating and rules can change. Your home may be repossessed if you do not keep up repayments on your mortgage.
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