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        Updated: April 17, 2024

        Mortgage Affordability Calculator

        Want to know how much you can borrow on a mortgage? Try our affordability calculator before speaking to a broker for bespoke advice.

        Calculate My Affordability

        No impact on your credit score

        A mortgage affordability calculator will give you a good idea of the maximum amount you’d be able to borrow from a mortgage lender based on your annual salary. Below you’ll find our mortgage affordability calculator, learn how it works, and find out what your next steps should be after you’ve worked out your maximum borrowing.

        calculator icon

        Mortgage Affordability Calculator

        Our affordability calculator can tell you how much you can potentially borrow from a mortgage lender. Simply enter your total household income below and our calculator will do the rest.

        Input full salaries for all applicants
        £

        You could borrow up to 

        Most lenders would consider letting you borrow

        This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.

        Some lenders would consider letting you borrow

        This is based on 5 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.

        A minority of lenders would consider letting you borrow

        This is based on 6 times your household income, a salary multiple you will struggle to get without a broker. Six-times salary mortgages are usually only available under very specific circumstances.

        Get Started with an expert broker to find out exactly how much you could borrow.

        How our mortgage affordability calculator works

        This calculator works out how much you could potentially borrow on a mortgage based on your annual salary. It returns three possible sets of results, based on the most common income multiples that mortgage lenders in the UK use to determine maximum borrowing.

        Most lenders would let you borrow a maximum of 4.5 times your annual income, but some stretch to 5 times salary and a small minority up to 6 times salary, under the right circumstances.

        Our affordability calculator takes the salary you enter and multiples it by each of these caps to provide you with a rough picture of your maximum borrowing. The accompanying text it outputs explains approximately how many lenders offer each of these income multiples.

        If you’re looking for a mortgage with multiple applicants, add the income for each applicant together and enter it into the calculator to get a general idea of combined borrowing power.

        Important: Please note that this mortgage calculator only offers a rough idea of maximum borrowing. Factors such as your outgoings and employment situation might impact your ability to access the income multiple you need. For 100% accurate and bespoke calculations, make an enquiry with us to speak to a mortgage broker.

        Get Started with a Broker

        Maximise your chance of approval with specialist advice from a mortgage expert

        Is affordability always calculated this way?

        For a typical residential mortgage, the standard income multiples that this calculator uses will apply, but there are other types of mortgage where they will be different, such as:

        • Buy-to-let mortgages: Affordability is based on the projected rental income, with most lenders expecting it to be forecast at 125-145% of the mortgage payments.
        • Commercial mortgages: Business mortgages are usually calculated on a bespoke basis. Most commercial mortgage lenders work out maximum borrowing based Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA).
        • High net worth mortgages: Borrowers who qualify for high net worth exemption often have access to bespoke mortgage deals and higher income multiples, including seven times salary and sometimes even higher.
        • Second charge mortgages: These secondary mortgages are secured against the equity in your home and can be based on higher income multiples than mortgages.

        For self-employed borrowers, the income multiples the lender will use remain the same, but the way your income is assessed will be different and the amount you can borrow will be determined by your trading style and the level of income your accounts evidence.

        See our self-employed mortgage calculator page for more information.

        Your affordability won’t be assessed any differently if any of the following applies…

        Our Broker-Matching Service Guaranteed!

        We want you to have complete confidence in our service, and get the best chance of securing your mortgage. We guarantee to get your mortgage approved where others can’t – or we’ll give you £100*

        Learn More
        Mortgage Approval Guarantee or £100 back

        What you should do next

        Now that you have a rough idea of your maximum borrowing you should speak to a mortgage broker for bespoke calculations and advice about your next step.

        The right mortgage broker will be able to offer you bespoke guidance about the results of your calculations and help you find the best mortgage deal on the market based on them.

        We offer a free mortgage broker-matching service to make sure you find the ideal advisor for you, someone who’s best place to help you save time and money in the long run. Call 0808 189 0463 or make an enquiry to get started with your ideal broker today.

        FAQs

        No. Mortgage affordability is calculated exactly the same way in England, Wales, Scotland and Northern Ireland, where the same income multiples are used by lenders.

        It is often based on the same income multiples, although the higher ones can be more difficult to access for most borrowers. For some overseas countries, however, maximum mortgage borrowing is based primarily on the loan-to-value ratio.

        Ask Us A Question

        We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in all different mortgage subjects. Ask us a question and we'll get the best expert to help.

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        Pete Mugleston

        Pete Mugleston

        Mortgage Expert, MD

        About the author

        Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

        Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

        FCA Disclaimer

        *Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us as well as any of our own are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

        Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.