Enter your gross annual income (before tax) to see how much you could potentially borrow. Add a partner’s income for a joint application. Include your deposit to see the maximum property price you could reach.
Mortgage affordability is assessed in two separate stages. The first is a hard numerical ceiling set by income multiples. The second is a detailed individual affordability check that can reduce that ceiling significantly depending on your circumstances.
Most UK lenders will lend up to 4–4.5 times your gross annual income (salary before tax). For a joint application, this is the combined income of both applicants. Some lenders do offer higher multiples above 4.5× to qualifying borrowers, subject to specific eligibility criteria and the FCA’s responsible lending rules, which limit the proportion of high loan-to-income lending any individual lender can do. These higher multiples are not freely available to all applicants — a whole-of-market broker is the most effective way to find out what is available for your specific circumstances.
Variable income such as bonuses, commission, or overtime is typically treated more cautiously — lenders often average it over two to three years, or use only a percentage of it in their calculation.
| Scenario | Gross income | At 4× (conservative) | At 4.5× (standard) |
|---|---|---|---|
| Single applicant | £30,000 | £120,000 | £135,000 |
| Single applicant | £45,000 | £180,000 | £202,500 |
| Single applicant | £60,000 | £240,000 | £270,000 |
| Joint — equal incomes | £30k + £30k = £60,000 | £240,000 | £270,000 |
| Joint — mixed incomes | £45k + £35k = £80,000 | £320,000 | £360,000 |
| Joint — mixed incomes | £60k + £40k = £100,000 | £400,000 | £450,000 |
Illustrative only. Income multiples are a ceiling — actual offers depend on the Stage 2 affordability check below.
Beyond the income multiple, lenders run a detailed check of your actual monthly finances. This is where real-world borrowing capacity is determined — and often where the headline multiple gets reduced. Every major lender considers the following factors.
Your Loan-to-Value ratio (LTV) is the percentage of the property price that you’re borrowing. It’s calculated as: mortgage amount ÷ property value × 100. So on a £250,000 property with a £50,000 deposit, you’d need to borrow £200,000 — an LTV of 80%.
LTV matters because it affects the interest rates available to you. Lenders tier their rates by LTV: the lower your LTV (i.e. the bigger your deposit), the better the rate you’ll typically be offered, because the lender is taking on less risk. Common LTV tiers are 95%, 90%, 85%, 80%, 75%, and 60% — with the best rates generally available at 60% or below.
LTV also affects your affordability: lower rates from a bigger deposit mean lower monthly payments, which can help pass the stress test and potentially unlock a slightly larger loan. Enter your deposit above to see how it affects your maximum property price.
Why this calculator shows a range, not a single number: affordability genuinely varies between lenders. Two borrowers with identical incomes can be offered meaningfully different amounts depending on their outgoings, deposit size, credit history, and which lender they approach. The range here reflects the standard market band — it is a starting point for planning, not a guaranteed offer. A whole-of-market mortgage broker can check your actual eligibility across hundreds of lenders without leaving a mark on your credit file.
Lenders use a two-stage process. First, they apply an income multiple to set a maximum ceiling — typically 4 to 4.5 times your gross annual income. Then they run a detailed affordability assessment: they examine your monthly income, committed outgoings (loans, credit cards, childcare), living cost allowances, and whether you could afford the repayments if rates were to rise significantly. The affordability assessment can bring your actual offer well below the income multiple ceiling, particularly if you have high outgoings or existing debt.
A stress test checks whether you could still afford your mortgage if interest rates rose after your initial deal ended. The Bank of England's Financial Policy Committee withdrew its specific affordability stress test requirement in August 2022. Since then, lenders set their own margins under the FCA's responsible lending rules, which require them to consider the impact of likely future rate increases on affordability — but do not prescribe a specific percentage. Many lenders still apply a buffer of 2–3% above their Standard Variable Rate, though this varies. One important exception: if your mortgage rate is fixed for five years or more, the FCA's rules do not require a rate-rise stress test at all for that period.
Yes. On a joint application, most lenders combine both applicants' incomes and apply the same multiple to the total. So two people earning £35,000 each (£70,000 combined) could potentially borrow up to £315,000 at 4.5× — compared to £157,500 each applying alone. The affordability assessment considers both applicants' outgoings and both credit records are checked. A poor credit history on either applicant can affect the overall offer.
Your deposit size affects your Loan-to-Value (LTV) ratio — the proportion of the property price you need to borrow. A larger deposit gives you a lower LTV and access to better interest rates. Lower rates mean lower monthly payments, which can help pass the affordability stress test. However, most lenders' income multiple caps apply to the loan amount regardless of deposit. Your deposit primarily determines what property prices are reachable and which rate tiers you qualify for, rather than the headline borrowing cap.
Yes. Some lenders do offer income multiples above 4.5× to qualifying borrowers. The Bank of England's loan-to-income flow limit means lenders can only do a restricted proportion of their new mortgage lending at higher multiples, so these products are not available to everyone. Eligibility typically depends on your income level, deposit size, the type of mortgage product, and the lender's own criteria — which vary considerably. A whole-of-market mortgage broker can assess your eligibility across the full market and identify what applies to your situation.
Several factors affect your actual borrowing capacity beyond the headline income figure: your credit history and current credit utilisation; existing debt commitments (car finance, personal loans, credit card balances, student loans); childcare costs; your employment type — self-employed applicants typically need two to three years of accounts; the loan term you request (a longer term lowers monthly payments); the property type (some lenders won't lend on certain property types at standard LTVs); and your age (lenders have maximum age limits at the end of the mortgage term, typically 70–80).
You have your borrowing range. The next step is turning that estimate into a real Decision in Principle — a formal indication from a lender that they will lend you a specific amount, which you will need before making an offer on a property. A whole-of-market broker can check your eligibility across hundreds of lenders, identify the best rate for your circumstances, and arrange a Decision in Principle at no cost to you and without leaving a mark on your credit file. Want to understand how lenders assess affordability in detail? Read our How Much Can I Borrow guide.
Find an FCA-authorised broker ↗Always check your broker is registered on the FCA Financial Services Register before proceeding.
Once you know your borrowing range, these tools and guides help you understand the full financial picture before making an offer.