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How much can I borrow for a mortgage?
Find out how much you could borrow for your mortgage with our calculator - just enter your income below.
Mortgage borrowing calculator
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Experian data is used in most mortgage decisions in the UK
Based on Experian market share data.
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FAQs
Lenders normally limit how much they lend to you based on a multiple of your income. This is usually around four to five times your salary.
But this can depend on other circumstances, such as your financial commitments. Use our borrowing calculator to get a rough estimate of how much you could borrow.
First you’ll need to save up enough money for a deposit, which could be between 5% and 20% of the property’s value.
You’ll also need to budget for the ‘hidden’ costs of buying a home. Things like stamp duty and legal fees can add up to thousands of pounds, so factor those costs in.
The most you can borrow as a first-time buyer is usually between four and five times your household income. But this isn’t guaranteed.
When deciding how much to lend to you, lenders will look at your outgoings as well as your income, and how much spare cash you have each month. They want to make sure you can afford the mortgage payments, especially if rates were to rise.
Our borrowing calculator gives you a rough estimate of how much you could borrow.
Key things that will help you get a better mortgage deal:
- Improve your credit score: the higher your score, the better your chances of being accepted
- Reduce existing debt: if you can, pay off things like credit cards and loans before applying
- Save a larger deposit: the bigger your deposit, the lower risk you are to lenders
Don’t just look at what mortgages your bank offers. Compare deals from across the market to find the lowest rates. If you need help, a mortgage broker can find the best mortgage for your needs.