Mortgage Affordability Calculator
How it works
We multiply your combined gross income by 4.5 (a typical lender cap), then deduct an allowance for monthly debts and dependants. Adding your deposit gives the maximum property price you may be able to borrow against. Specialist lenders may go to 5–6× for high earners or professionals.
Worked example
Couple earning £40k + £30k = £70k joint, £200/m credit card, no kids, £30k deposit: 70,000 × 4.5 = £315,000 borrowing − affordability adjustment ≈ £305,000 + £30k deposit = £335k max property price.
Who should use this
- •First-time buyers checking budget before viewings
- •Movers calculating bigger property potential
- •Couples comparing sole vs joint applications
- •Self-employed people estimating borrowing range
Common mistakes
- ×Using gross income but forgetting student loan / pension deductions affect take-home affordability
- ×Ignoring the lender's stress test (rate +3%)
- ×Counting bonus / commission at 100% (most lenders use 50–60%)
- ×Forgetting deposit needs to cover stamp duty + fees too
Frequently asked questions
How much can I borrow on a £50k salary?▾
Typically £200,000–£250,000 (4–5× income), depending on outgoings, credit, and the lender's stress test.
Do lenders use gross or net income?▾
Gross (pre-tax) income for the income multiple, but they then affordability-test against your net take-home and outgoings.
Does Help to Buy still exist?▾
The Help to Buy equity loan closed in 2023. Shared Ownership and the Mortgage Guarantee scheme are still available for low-deposit buyers.
How much deposit do I need?▾
5% minimum, 10–15% for better rates. 25%+ unlocks the lowest rates.