How Much Can I Borrow? Mortgage Calculator
A quick estimate of your mortgage budget and the cash you need.
Your details
You might be able to borrow
£180,000
4.5 times £40,000 of income
- Possible price with your deposit
- £205,000
- Loan to value
- 88%
- Monthly repayment over 25 years at 4.5%
- £1,000.50
- Stamp duty at that price
- £0
- Cash needed (deposit plus stamp duty)
- £25,000
A starting point only. Lenders check your outgoings, credit history and how secure your income is. Some count overtime or shift pay, often at a reduced rate. Stamp duty uses England and Northern Ireland rates.
How it is worked out
- 1Most lenders start by multiplying your yearly income, or your combined income if buying together, by about 4 to 4.5.
- 2Adding your deposit gives a rough maximum price.
- 3The monthly cost is a repayment mortgage over 25 years at the interest rate you choose, and stamp duty uses England and Northern Ireland rates.
Worth knowing
- Lenders also look at your outgoings, debts, credit history and how secure your income is.
- Some lenders count overtime or shift pay, often only part of it.
Common questions
How many times my salary can I borrow?+
Many lenders lend around 4 to 4.5 times income. Some go to 5 or more for certain professions or higher earners, after affordability checks.
Sources
The rules and figures behind this calculator come from:
This is a rough guide, not a mortgage offer or financial advice. Lenders make their own affordability checks. Speak to a regulated mortgage adviser before you commit.
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