Answers · UK 2025/26

How big a mortgage can I get on a £15,000 salary?

Typically around £67,500, based on the common 4.5x income cap (4.5 x £15,000). Most lenders also apply a minimum affordable-loan threshold and stress-test outgoings, so actual borrowing on lower incomes is often driven more by affordability than the income multiple.

Last updated: 10 July 2026Last reviewed: 10 July 2026How we verify

Full answer

Most UK mortgage lenders cap borrowing at roughly 4 to 4.5 times gross annual income, so on a £15,000 salary you could in theory borrow about £60,000 to £67,500. Some lenders offer 5x for borrowers with strong credit, potentially reaching £75,000, but at this income level affordability checks -- rather than the income multiple -- usually set the real ceiling, since living costs, existing debts and a stress-tested higher interest rate must all fit within take-home pay. Worked example: borrowing £67,500 over 25 years at 5.0% costs about £394.60 a month. On a £15,000 salary your take-home pay for 2026/27 is roughly £1,193.30 a month after Income Tax (£486 a year) and National Insurance (£194.40 a year), so that payment is around 33.07% of net income -- within a range many lenders would consider serviceable, though a joint application or a smaller loan alongside a larger deposit is common at this income level.