How Much Can I Borrow for a Mortgage?

Most UK lenders will offer you 4 to 4.5 times your gross annual income. On a £35,000 salary, that's a loan of £140,000 to £157,500, before you add your deposit. Here's how lenders reach that figure, what shrinks it, and how much you can actually afford to repay each month.

Last updated: 31 July 2026

What lenders start with: a multiple of your income

Every mortgage offer begins with an income multiple, the number a lender multiplies your income by to set your maximum loan. Most high-street lenders cap this at 4 to 4.5 times your gross income, meaning your pay before tax and National Insurance. Some go to 5 or 5.5 times for applicants with a strong income and low debt. A few now reach 6 times or more in specific cases.

That single figure does most of the work. Here is what the mainstream 4× to 5× range looks like at three income levels.

Gross income	4× (most lenders)	4.5× (most lenders)	5× (some lenders)
£30,000	£120,000	£135,000	£150,000
£40,000	£160,000	£180,000	£200,000
£60,000	£240,000	£270,000	£300,000

The loan only. Your deposit is added on top to reach the property price you can buy.

Applying jointly combines both incomes, so two people on £30,000 each are assessed on £60,000. Your deposit does not change the multiple. What it changes is your loan-to-value (LTV), the loan as a percentage of the property price. A £150,000 loan on a £180,000 home is an 83% LTV. Push your deposit up and the LTV falls, and a lower LTV unlocks cheaper rates, because the lender is risking less against the property.

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Mortgage affordability calculator

Enter your income and deposit to see your maximum loan at 4×, 4.5×, 5× and 5.5×, with the monthly payment and LTV at each level.

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What shrinks the offer, and what recently grew it

The income multiple is the ceiling. Two things pull the real figure below it, and one recent rule change has lifted the ceiling for some borrowers.

The affordability stress test

Before lending, a lender runs a stress test: it checks you could still cover the payment if your interest rate rose above the rate you are quoted. If the stressed payment eats too much of your income, the lender lowers what it will offer, regardless of the multiple. In March 2025 the regulator relaxed how strict this test has to be, and some lenders responded by cutting their stress margins, which has widened borrowing for creditworthy applicants.

Your existing monthly debts

Lenders weigh your monthly commitments against your income. Car finance, personal loans, and minimum credit card payments all count. A £35,000 earner with £400 a month of car finance looks different from one with none, and can be offered thousands less. Clearing debts before you apply is one of the few levers that reliably raises your maximum.

Higher multiples are more available than they were

In July 2025 the Bank of England eased the rule that limited each lender to no more than 15% of its new mortgages above 4.5 times income. Individual lenders can now go further, and several major names offer 5 to 5.5 times as standard. NatWest moved to 6.5 times for joint applications with combined income above £150,000, the highest multiple from a mainstream lender. Higher multiples still need a clean credit record and usually a 10% deposit, so treat them as available rather than automatic.

Buying in Scotland

The multiple is UK-wide, so a £35,000 salary buys the same loan in Aberdeen as in Bristol. Two things differ in Scotland. Average house prices are lower, so the same 4.5 times loan covers a larger share of a typical purchase. And on the purchase itself you pay LBTT (Land and Buildings Transaction Tax, Scotland's version of Stamp Duty), not SDLT, which changes your upfront cost rather than your loan. Your Scottish income tax affects your take-home pay, not the multiple, because lenders assess gross income.

First-time buyer? The LBTT and Stamp Duty reliefs work differently across the border. The first-time buyer stamp duty guide sets out what you pay at each price, and the Stamp Duty and LBTT calculator gives your exact figure for either country.

How much can you actually afford?

The maximum a lender will offer and the payment you can comfortably live with are two different numbers. Borrowing the full 5 times income can leave the repayment tight, especially when your fixed deal ends and you remortgage at whatever rate applies then. Start from the monthly cost, not the headline loan.

Here is the monthly payment on a £200,000 loan over a 25-year term, at rates spanning the 2026 market. Best first-time buyer deals at low LTV sit around 4.25% to 4.5%; average two and five-year fixes are closer to 5.6%.

Interest rate	Monthly payment	Paid over 25 years
4.0%	£1,056	£316,800
4.5%	£1,112	£333,600
5.0%	£1,169	£350,700
5.5%	£1,228	£368,400

Repayment mortgage, £200,000 loan over 25 years. Use the calculator for your own loan, rate, and term.

Check that payment against what you keep each month. The take-home pay calculator shows your net income after tax, which is the figure a mortgage actually comes out of. A common rule of thumb is to keep the payment under about 35% of take-home pay, though the right number is the one that still leaves room for bills, savings, and the unexpected.

If the offer falls short of the price you want

Grow the deposit. It does not raise the loan, but a lower LTV means a cheaper rate, which lowers the monthly payment and makes the affordability test easier to pass.
Lengthen the term. A £180,000 loan at 4.5% costs £1,000 a month over 25 years, £912 over 30, and £852 over 35. It lowers the monthly payment but adds thousands in total interest.
Clear monthly debts. Paying off car finance or a loan frees up disposable income and can lift the amount a lender will offer.
Use a 95% mortgage. If your deposit is small, the government's permanent Mortgage Guarantee Scheme supports 95% LTV deals on homes up to £600,000. The rate is higher, but it gets you in with a 5% deposit.

Run your own income and deposit through the mortgage affordability calculator to see your maximum at each multiple, then use the mortgage repayment calculator to pressure-test the monthly cost before you speak to a lender.

Frequently asked questions

How much can I borrow for a mortgage on my salary?

Most high-street lenders offer 4 to 4.5 times your gross annual income. On a £35,000 salary that is £140,000 to £157,500. Some lenders now go to 5 or 5.5 times for applicants with strong incomes, low debt, and a clean credit record, and a few stretch to 6 times in specific cases. The multiple is a maximum, not a promise: the lender still checks your outgoings, credit history, and employment type.

Does my deposit change how much I can borrow?

Not the loan size. Lenders set your maximum loan from your income, not your deposit. What your deposit changes is your loan-to-value (LTV), the size of the loan as a percentage of the property price. A bigger deposit means a lower LTV, which unlocks better interest rates and a wider choice of products. A 10% deposit (90% LTV) opens far more deals than the 5% minimum.

Can I borrow more than 4.5 times my income now?

Yes, more often than a few years ago. In July 2025 the Bank of England relaxed the rule that capped each lender at lending no more than 15% of its mortgages above 4.5 times income, letting individual lenders go further. Several major lenders now offer 5 to 5.5 times as standard, and NatWest moved to 6.5 times for joint applications with combined income above £150,000. Higher multiples still need strong finances and usually a 10% deposit or more.

How much can I borrow in Scotland compared with England?

The income multiple is the same. Lenders use UK-wide rules, so a £35,000 salary buys the same 4 to 4.5 times loan in Glasgow as in Leeds. What differs is what that loan buys and what you pay on top. House prices are lower on average in Scotland, so a given multiple stretches further, and you pay LBTT (Land and Buildings Transaction Tax, Scotland's version of Stamp Duty) rather than SDLT on the purchase.

Do my existing debts reduce how much I can borrow?

Yes. Lenders look at your monthly commitments, including personal loans, car finance, and minimum credit card payments, alongside your income. High outgoings leave less spare income to cover a mortgage, so they lower your maximum offer even when your income multiple looks fine. Clearing or reducing debts before you apply can raise the figure a lender will lend you.

What is the difference between what I can borrow and what I can afford?

What you can borrow is the lender's maximum. What you can afford is the monthly payment you can live with once tax, bills, and everyday costs are covered. Borrowing the full amount at 5 times income can leave the repayment tight if rates rise at renewal. Work out the monthly cost at your income multiple, then check it against your take-home pay before you commit.