How Much Mortgage Can I Get? UK Affordability Explained

How Banks Decide What You Can Borrow

UK lenders use a combination of income multipliers and affordability stress tests to decide your maximum mortgage.

Income Multipliers

Most lenders offer between 4x and 4.5x your annual income:

• 4x income: Standard offer for most borrowers
• 4.5x income: Common with good credit and low debts
• 5x income: Some lenders for higher earners (£75k+) or professionals (doctors, lawyers)
• 5.5x–6x: Very rare, usually private banks

Joint applications: both incomes are combined before multiplying.

What Reduces Your Borrowing

• Existing debt (credit cards, car finance, student loans)
• High monthly commitments (childcare, maintenance)
• Poor credit history
• Short employment history
• Being self-employed for under 2 years

The Stress Test

Banks don't just check if you can afford payments NOW — they test if you could afford them if rates rise to 6-7%. This is why you might be offered less than you expect even with a good salary.

Tips to Maximise Borrowing

• Pay off credit cards and loans before applying
• Save a larger deposit (better LTV = better rates)
• Close unused credit card accounts
• Avoid taking new credit 6 months before applying
• Get a Decision in Principle before house hunting