Mortgage Affordability Calculator
Find out how much you could borrow for a mortgage based on your income and outgoings.
Your income & deposit
Combined income: £45,000
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Monthly payment estimate uses 4.5% interest rate over 25 years. Actual lender decisions vary.
Maximum mortgage by salary (4.5× income multiple)
Single applicant. Monthly payment estimate uses 4.5% interest, 25-year repayment term.
| Annual salary | 4× borrowing | 4.5× borrowing | 5× borrowing | Monthly payment (4.5×) |
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How it's calculated
Income multiples are the primary tool lenders use to decide how much to lend. Most high street lenders apply 4 to 4.5 times your gross annual income. The Bank of England requires lenders to limit the proportion of mortgages above 4.5× income.
Affordability stress tests mean lenders also check you could still afford payments if interest rates rose by 3 percentage points. This often limits borrowing to less than the stated income multiple for borrowers with high outgoings.
The monthly payment estimate uses the standard annuity formula at 4.5% over 25 years. Your actual rate will depend on your LTV, credit score and the lender's current products.
Frequently asked questions
Most lenders offer 4 to 4.5 times your gross income. Some specialist lenders go to 5 or even 5.5 times for high earners or certain professions (doctors, lawyers). The actual amount also depends on your credit score, outgoings, and deposit size.
Your deposit affects your LTV ratio, which influences which mortgage products you can access and the interest rates available. A larger deposit usually means better rates but doesn't directly increase the income multiple lenders will use.
Yes — most lenders use combined income for joint applications, significantly increasing your borrowing power. Some lenders use 100% of the main income and 50% of the second, while others use the full combined income.
Lenders assess affordability individually based on your credit history, outgoings and other factors. This calculator gives an estimate only — speak to a mortgage broker for a personalised assessment.