Guide · 4 minute read · Updated 10 Jul 2026

How much can I borrow for a mortgage?

As a rule of thumb, most lenders will offer around 4.5 times your annual income, and a few will stretch to 5 or 5.5 times for the right borrower. The multiple is only the ceiling, though. The affordability test on your actual outgoings is what usually sets the figure you get.

The income multiple is the starting point

Lenders begin with a loan-to-income cap. The high-street default is roughly 4.5 times gross annual income, so someone earning £40,000 is looking at about £180,000, and a couple with a joint income of £70,000 at about £315,000.

Some lenders go further, offering 5 to 5.5 times income for higher earners, professionals such as doctors or solicitors, or borrowers with a large deposit. They can only do so within limits: a regulator rule stops any lender writing more than 15% of its new mortgages above 4.5 times income, so the stretched multiples are rationed, not the norm. Treat 4.5 times as your planning number and anything above it as a bonus you might qualify for.

Joint income usually beats one big salary

Lenders add both applicants' incomes together, so buying with a partner typically lifts what you can borrow. On a joint income of £70,000, split however you like between the two of you, a 4.5 times multiple gives roughly £315,000, comfortably more than either of you would reach alone.

Two important caveats. Most lenders count two incomes in full but will not multiply a third applicant, and adding someone to the mortgage also adds their debts and commitments to the affordability test. A second income that comes with a car loan and a credit card balance can add less than you would hope.

The affordability test often lands below the multiple

Passing the multiple is necessary but not sufficient. The lender then runs an affordability assessment: it takes your income, subtracts your committed outgoings, and checks whether the remainder covers the mortgage even if rates rose. That stress test is a real hurdle, because it models the payment at a rate a few percentage points above the deal you are applying for, not at today's rate.

Outgoings that pull the figure down include:

• Car finance, personal loans and credit card balances.
• Childcare costs, which lenders treat as a fixed monthly commitment.
• Student loan deductions and any maintenance or child support you pay.
• Regular high committed spending such as school fees.

Someone on £40,000 with £400 a month of car finance and £800 of childcare can easily be offered £25,000 to £40,000 less than the raw 4.5 times figure suggests, because that £1,200 a month is gone before the mortgage is even considered. Clearing a car loan before you apply can do more for your borrowing power than a pay rise.

Run your own numbers first

Before you fall for a property, put your real income and outgoings through the mortgage affordability calculator to get a grounded figure, then use the mortgage repayment calculator to see what the monthly cost actually is at the loan size you are considering. The gap between the headline multiple and the affordable amount is where most first-time buyers get caught out, so it is worth knowing your number before an estate agent quotes you theirs.

Common questions

How many times my salary can I borrow for a mortgage?

Most lenders cap at about 4.5 times your gross annual income, so £40,000 gives roughly £180,000. Some lenders offer 5 to 5.5 times for higher earners, certain professions or large deposits, but a regulator rule limits how much of that stretched lending any lender can do.

Does buying with a partner increase how much I can borrow?

Usually yes. Lenders add both incomes together, so a joint income of £70,000 at 4.5 times is about £315,000, more than either salary alone. Bear in mind their debts and commitments also join the affordability test.

Why did the lender offer me less than 4.5 times my income?

The income multiple is only the ceiling. The affordability test then subtracts your committed outgoings, such as car finance, childcare, loans and credit cards, and stress-tests the payment at a higher rate. Heavy monthly commitments can pull the offer well below the multiple.

Will clearing debt let me borrow more?

Often, yes. Because monthly commitments are deducted before the mortgage is assessed, clearing a £400-a-month car loan can raise your borrowing power by tens of thousands, sometimes more than a modest pay rise would.

Guidance and education, not regulated financial advice.