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UK Affordability Calculator

Find out how much you can borrow in the UK based on your income and the standard income multiple approach used by lenders.

Your Income

Combined income before taxes

£
£20,000£1,000,000

Typical UK lenders offer 4–4.5x income

x
3x6x

Your Savings

£
£0£500,000

Mortgage Terms

%
0.5%15%

Used for stress testing. Current BoE base rate affects this.

%
2%15%
yrs
5 yrs35 yrs

Affordability Summary

Stress Fail
Income Multiple Used4.5x
Maximum Mortgage£270,000
Monthly Payment at 4.5%£1,501
Monthly Payment at 10.5% (stress test)£2,549
Stress payment as % of income51.0%
Maximum Property Price£320,000
Stamp Duty (on max price)£6,000
UK lenders typically offer 4–4.5x annual income. Your borrowing capacity is primarily determined by the income multiple. The stress test at SVR + 3% (10.5%) checks affordability under higher rates. Payments above 50% of monthly income may flag affordability concerns.

Your Affordability

Maximum Property Price

£320,000

Deposit: £50,000

Maximum Mortgage

£270,000

4.5x income multiple

Monthly Payment (contract rate)

£1,501

At 4.5% over 25 years, 30.0% of monthly income

Monthly Payment (stress test)

£2,549

At 10.5% (SVR + 3%), 51.0% of monthly income

Stamp Duty Estimate

£6,000

On max property price of £320,000

PilotRate provides educational mortgage estimates and does not constitute financial advice. Actual qualification depends on your lender's criteria.

UK Home Affordability — Frequently Asked Questions

How much mortgage can I borrow based on my salary in the UK?
Most UK lenders offer 4 to 4.5 times your annual income. For joint applications, many lenders now use the full income multiple rather than the traditional 4.5x combined income. Some lenders offer up to 5.5x or 6x for high-income earners or professionals. Our calculator factors in current lender practices to give you a realistic borrowing estimate.
What is the UK mortgage stress test?
UK lenders typically assess affordability at a stressed rate of the Bank of England base rate plus 3% or a minimum floor of 5% to 6%. This ensures you can still afford your mortgage if interest rates rise significantly. Lenders also assess your living expenses, existing debts, and other financial commitments.
How does my deposit (down payment) affect what I can afford in the UK?
A larger deposit unlocks better mortgage rates and lower monthly payments. With a 5% deposit, many lenders offer 95% LTV mortgages but at higher rates. A 10% deposit opens up more options, and 15% to 20% significantly improves rates. A 40% deposit qualifies you for the best rates on the market.
What is the Help to Buy or Lifetime ISA and how does it affect affordability?
A Lifetime ISA (LISA) allows you to save up to £4,000 per year, and the government adds a 25% bonus up to £1,000 annually. The bonus can be used toward your first home purchase. This effectively increases your deposit and borrowing power. The Help to Buy equity loan scheme is closed to new applicants as of March 2025.
How do lenders assess affordability for self-employed borrowers?
Self-employed borrowers typically need 1 to 3 years of certified accounts or tax returns. Lenders average your last 2 to 3 years of income, which can make it harder if your income varies. Some specialist lenders use your most recent year's income or projected earnings. A larger deposit helps offset the perceived risk.