As a rough guide, most lenders will offer between 4 and 5 times your income — in some cases up to 6x — but this depends on your circumstances.

One of the most common questions we get is: how much can I actually borrow for a mortgage? The full answer depends on a few key factors, including your income, outgoings and the type of mortgage you're applying for.

How do lenders calculate how much you can borrow?

Most lenders use a combination of:

Your income
Your monthly commitments
Your credit profile
The size of your deposit

What affects how much you can borrow?

Income

Your salary is the starting point, but lenders will also look at bonuses, overtime, commission, and self-employed income. If you're self-employed or a contractor, lenders may assess your income differently.

Monthly outgoings

Lenders will factor in credit cards, loans, car finance, childcare costs, and other regular commitments. The lower your outgoings, the more you may be able to borrow.

Deposit

Your deposit impacts your loan to value (LTV). A larger deposit means lower risk, which generally means more competitive rates.

Credit history

A strong credit profile improves your chances of higher borrowing and better interest rates.

How much can first-time buyers borrow?

First-time buyers are assessed in the same way, but lenders may be slightly more cautious. If you're buying your first home, it's worth getting advice early to understand your full options.

Can you borrow more than 4.5 times your income?

In some cases, yes. Certain lenders offer higher income multiples, especially if you have a strong income, low outgoings, and a larger deposit. However, affordability checks are always applied.

FAQs