How Much Can I Borrow?
How Much Can I Borrow for a Mortgage?
Most lenders will lend around 4 to 4.5 times your income, and some go higher. But your outgoings, credit and deposit all make a difference. Use our calculator for a quick guide, then let us find out what lenders will actually offer you.
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Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
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The Basics
Income Multiples Are Only the Starting Point
Lenders start with your income, then look at what you spend and your credit history to decide what is affordable.
- ✓4 to 4.5 times income: what most lenders offer
- ✓Up to 5.5 times: some lenders for higher earners or certain professions
- ✓Commitments: loans, car finance and credit cards reduce what you can borrow
- ✓Joint applications: two incomes are usually added together
How We Help
How to Borrow More
Five things that can make a difference.
Reduce Your Debts
Clearing a car loan or card balance can add thousands to your borrowing.
Count All Your Income
Overtime, bonus, commission and some benefits can count with the right lender.
Pick the Right Lender
Lenders' calculators give very different answers. We compare them for you.
Look at the Term
A longer term can increase what lenders see as affordable.
Bigger Deposit
More deposit means a lower loan to value and sometimes better rates.
Borrowing Calculator
How Much Could You Borrow?
Pop in your income and any monthly commitments for a quick guide.
Illustration only, not a mortgage offer. Most lenders work to around 4.5 times income. Enhanced lending of 5 to 5.5 times is usually for higher earners or certain professions, and not everyone will qualify.
You may be able to borrow more depending on your circumstances, for example a higher income, a bigger deposit, or a job some lenders favour such as doctor, nurse, teacher or solicitor.
You may be offered less depending on your circumstances, for example loans, car finance or credit card balances, childcare costs, dependants, missed payments on your credit file, or income that is harder to prove like overtime, bonus or self-employed earnings. Every lender works it out differently, so speak to us for a proper figure.
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Income Types
What Income Counts?
Lenders treat different income in different ways.
Common Questions
Borrowing Questions, Answered
The things people ask us most.
How much can I borrow for a mortgage?
Most lenders offer around 4 to 4.5 times your income. Some go up to 5.5 times for higher earners or certain professions.
How much can I borrow on £30,000?
Usually around £120,000 to £135,000 with most lenders, depending on your outgoings and credit.
How much can we borrow on a joint income?
Lenders usually add your incomes together and apply the same multiples, then look at both your outgoings.
Does my credit score affect how much I can borrow?
It can. Some lenders reduce what they will lend if you have credit problems, or decline altogether.
Do lenders count overtime?
Many do if it is regular. Some count all of it, some only half.
Is a mortgage calculator accurate?
It is a guide. Each lender has its own affordability model, so the real figure can be higher or lower.
Related guides
- Mortgage repayment calculator
- Mortgage affordability checks explained
- What affects mortgage approval
- Buying with a 5% deposit
- All mortgage questions answered
Written by Tony Flynn, mortgage broker at Tony Flynn Mortgages, helping homebuyers across Lanarkshire and Scotland. This page is general information, not personal advice. Speak to Tony about your own circumstances.
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