How much can I borrow for a mortgage in the UK?

Full answer

How much you can borrow for a UK mortgage depends on your income, deposit, credit history and the lender's individual criteria. Here is a practical guide. **Income multiples (2026 — indicative):** | Lender type | Typical income multiple | |---|---| | High-street banks (standard) | 4× to 4.5× gross income | | Building societies | 4× to 5× gross income | | Specialist lenders | Up to 5.5× income (higher earners) | | With large deposit (40%+ LTV) | Up to 5× with some lenders | **Examples:** - £30,000 salary → typically £120,000–£135,000 borrowing - £40,000 salary → typically £160,000–£180,000 - £60,000 salary → typically £240,000–£270,000 - £80,000 + £50,000 (joint) → £130,000 combined → up to £585,000 **The stress test:** FCA rules require lenders to check affordability at a higher "stressed" interest rate — typically 7–8% — not the actual rate. This means your monthly payment at the stressed rate must still be affordable on your income. This cap bites significantly in higher-rate environments. **Deposit and LTV impact:** - **LTV 90–95%:** Higher rates, stricter criteria, lower income multiples - **LTV 80–85%:** Standard mainstream products - **LTV 60–75%:** Best rates; some lenders offer higher income multiples **Self-employed applicants:** Lenders typically require 2–3 years of tax returns/accounts. Most use the lower of: (a) average of last 2 years' profit, or (b) most recent year's profit. Some lenders use salary + dividends for director-shareholders. **Shared Ownership:** You buy a share (25–75%) of the property and pay rent on the remainder. Mortgage required only on the share you purchase — making the deposit and borrowing more accessible. **Mortgage broker:** A whole-of-market broker can access products not available direct and can find lenders with more favourable income multiples for your profile. Broker fees typically £500–£1,500 or paid via lender proc fees.

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