How much can I borrow? Mortgage calculator
Enter your income and financial commitments to see an indicative maximum mortgage amount. Actual lending decisions depend on the lender's own affordability rules, credit checks and property valuation.
This tool provides general guidance only. It is not a mortgage application, offer, illustration or regulated advice under Financial Conduct Authority rules. Your actual rate, borrowing and monthly payment will depend on the lender's assessment of your individual circumstances.
Speak to a Nexpad adviser for regulated adviceCalculator provided by mortgage-quote.me.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Think carefully before securing other debts against your home. Not all buy-to-let mortgages are regulated by the Financial Conduct Authority.
How much can you typically borrow for a mortgage in the UK?
As a rough guide, many UK lenders use income multiples of around 4 to 4.5 times your gross annual income when estimating how much you may be able to borrow. On a joint application, lenders usually assess both applicants' incomes, but they will also consider both applicants' outgoings, credit commitments and wider affordability.
Some lenders may consider higher income multiples, such as 5 times income or more, for certain applicants. This may include higher earners, specific professions, strong credit profiles, larger deposits or lower loan-to-value applications. Higher borrowing is not guaranteed and will still depend on the lender's affordability checks and criteria.
Factors that can increase or reduce your borrowing
Factors that may increase borrowing include a larger deposit, lower loan-to-value, longer mortgage term, stable income, joint income, minimal debts and a strong credit history.
Factors that may reduce borrowing include credit card balances, personal loans, car finance including PCP, childcare costs, school fees, dependants, maintenance payments, adverse credit, unstable income or property-related issues such as a short lease or unusual construction.
Frequently asked questions
How much can I borrow for a mortgage on a £50,000 salary in the UK?
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As a rough guide, borrowing based on 4 to 4.5 times income would suggest around £200,000 to £225,000. This is only an estimate. The actual amount you can borrow will depend on your outgoings, deposit, loan-to-value, credit history, employment status, property type and the lender's affordability assessment.
Can I borrow more if I apply with a partner?
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Usually, yes. Lenders will normally assess both applicants' incomes on a joint application. However, they will also consider both applicants' financial commitments, credit histories, dependants and regular outgoings, so the increase is not always a simple doubling of borrowing capacity.
Does self-employed income count the same as employed income?
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Self-employed income can be used for a mortgage, but lenders assess it differently from employed income. They may look at accounts, tax calculations, tax year overviews, business bank statements and the consistency of your income. Some lenders use an average of recent years, while others may consider the latest year's figures or retained profits, depending on the case.
Will running this calculator show up on my credit file?
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No. This calculator is for guidance only. It does not carry out a credit search, share your details with a credit reference agency or leave a footprint on your credit report.
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