Mortgage affordability: how much can you actually borrow?
Lenders set their own affordability limits - income is only half the story. Here’s how affordability really works, what lenders check, and how to work out your own number.
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There is no standard income multiple across the market, but lenders often describe their limits in those terms. As an illustration, borrowing 4.5 times a £45,000 salary would be £202,500. Your actual offer depends on the lender’s affordability checks, your committed outgoings and your credit history.
A quick look at the numbers
| Household income | Borrowing (4.5× example) | With 10% deposit | Max price |
|---|---|---|---|
| £35,000 | £157,500 | £17,500 | £175,000 |
| £45,000 | £202,500 | £22,500 | £225,000 |
| £60,000 | £270,000 | £30,000 | £300,000 |
| £80,000 (joint) | £360,000 | £40,000 | £400,000 |
Income is only half the story
Lenders run a detailed affordability assessment, not just a multiple:
- Outgoings: credit commitments (loans, cards, car finance), childcare, and your spending pattern from 3–6 months of bank statements
- Stress test: they check you could still afford the mortgage if interest rates rose. Many lenders still assume an increase of around 3 percentage points above today's rate, but the old fixed 3% stress test was withdrawn in 2022, so the exact buffer is now set by each lender
- Credit history: missed payments, defaults and court judgments reduce what you can borrow - and some lenders won’t lend at all
- Deposit size: a bigger deposit (lower LTV) means a smaller loan, which passes affordability more easily
- Employment: permanent employment is easiest; contractors and self-employed applicants may need 1–3 years of accounts
The income multiple vs your real number
The multiple is a starting point. Two people on identical salaries can be offered very different amounts - one with a car loan, credit card debt and nursery fees will be offered less than one with minimal outgoings. This is why a mortgage in principle (AIP) is so valuable: it gives you your number before you start viewing homes.
Try the calculator
Mortgage affordability calculator
Full page ↗Your details
Your estimate
You could borrow
£202,500
Illustrative purchase budget
£227,500
Estimate only - a lender’s affordability assessment determines the real offer. Lenders assess outgoings, credit history and stress-test rates — a mortgage in principle gives you the real number.
Estimate how much you could borrow based on your household income. The result is indicative - lenders set their own affordability criteria, so the amount offered can be higher or lower.
How to improve what you can borrow
- Clear expensive debt - paying off a car loan or credit card is usually the fastest win
- Cut regular spending for 3–6 months before applying (lenders review statements)
- Build your deposit past a band boundary (e.g. 10% → 15%) to unlock cheaper rates
- Check your credit report for errors before you apply (free via the main agencies)
- Fix errors early - mistakes on credit files are more common than people think
Frequently asked questions
Frequently asked questions
How much can I borrow for a mortgage?
There is no single borrowing figure, because each lender runs its own affordability assessment. As a rough illustration only, some lenders describe their limit as around 4 to 4.5 times your salary, so a £45,000 income could suggest borrowing up to about £202,500. Your actual offer depends on your outgoings, credit history, deposit size and the lender's stress test, so get an agreement in principle to see your real number.
How much mortgage can I afford?
Affordability is not just about the maximum a lender will offer - it is about what you can comfortably repay each month alongside your other commitments. Lenders check your income against outgoings like loans, cards, childcare and regular spending, then stress-test whether you could still afford the mortgage if rates rose. Use the affordability calculator for an indicative figure, then confirm with an agreement in principle before committing to a price range.
Can I afford a mortgage?
You can usually afford a mortgage if your monthly repayments, plus an affordability stress-test buffer, fit comfortably within your take-home pay after committed outgoings. Lenders typically want total housing costs to stay well below your income, and they look at 3 to 6 months of bank statements to see your real spending pattern. Clearing expensive debt and building a bigger deposit are the quickest ways to make a mortgage more affordable.
How much can I borrow based on my income?
As a rough starting point only, some lenders describe their limit as an income multiple of around 4 to 4.5 times your gross salary, so a £60,000 income could suggest borrowing up to about £270,000. Joint applicants are usually assessed on combined income, which can lift the multiple. Remember the multiple is only an illustration - your actual offer is set by the lender's affordability checks on outgoings, credit and deposit, so use a mortgage in principle to get your personalised figure.
Source: Financial Conduct Authority - understanding mortgage affordability — Guidance checked August 2026
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Sources
- Financial Conduct Authority - understanding mortgage affordability - Guidance checked August 2026
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