How much can I borrow?

Who is applying for the mortgage

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Whats your joint annual income?

Annual income (before tax)

Additional income (e.g. overtime, bonuses and commision)

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How much do you owe in total on credit cards, loans and overdrafts?

3 of 5

How many children under 18 do you have?

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How much have you saved for a deposit?

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The maximum you could borrow from most lenders is around:


Show me how it works

The calculation shows how much lenders could let you borrow based on your income. The amount shown is an estimate based on a multiple of your sole or joint income. You need to go directly to a lender to find the exact amount they can lend you. Each lender has their own way of checking how much you can borrow, and they look at your credit history and spending habits to help decide.

Including your £0 deposit, you could be able to buy a house costing


Compare mortgage deals

Use our easy comparisons to find a mortgage to:

Need help or want to borrow more?

You may be able to borrow more than the amount above. An expert mortgage broker like L&C can help you choose the right mortgage and give you a personalised borrowing amount.

Get advice

How to use our mortgage affordability calculator

Our mortgage calculator will help you work out how much you can borrow when applying for a mortgage. 

All you need to do is enter the following information:

  • Who is applying for the mortgage (just yourself or two of you)

  • Your annual income

  • Your guaranteed bonuses or overtime (if applicable)

  • How much you owe on credit cards, loans and overdrafts

  • How many children under the age of 18 you have 

  • How much you have saved for a deposit

We'll then show you approximately how much you can borrow for a mortgage. We work this out by multiplying your income by up to five times. This will also tell you the maximum property price that you can afford.

How much mortgage can I afford?

Once you’ve worked out the maximum amount you might be able to borrow based on your income, you should consider whether you can comfortably afford to meet the monthly repayments or whether you will find it a stretch. 

To help you with this, you can use our mortgage calculator to work out how much you can borrow based on the amount you could afford to pay towards your mortgage each month, rather than based on your income. 

How much mortgage can I get?

The method we use to calculate how much mortgage you can get is similar to how mortgage lenders decide if they will accept your application. However, lenders also take into account other factors, such as:

  • Your credit record - the better your credit score, the more likely you are to be accepted for the best deals

  • Your debt levels

  • The amount you spend on household bills, such as gas and electricity, broadband and food

  • The amount you spend on holidays and leisure activities

Lenders will also ask you to show bank statements and payslips to support your mortgage application.

What other factors affect how much I can borrow?

Before approving your application, lenders will scrutinise your finances to see if you can afford a mortgage. They will look at whether anyone depends on you financially and whether you are in permanent full-time employment. Self-employed workers may have more limited mortgage choices because their income often varies.

As well as assessing whether you could afford a mortgage now, lenders will also stress test your finances to check whether you would still be able to afford your mortgage if interest rates increased.

What mortgage can I get?

Once you know how much you could borrow, your next step is to compare mortgages using our comparison service.

You'll be able to choose from fixed-rate mortgages – where the interest rate and your repayments remain the same for the term of the deal, which is typically two, three or five years. Alternatively, you can choose a variable-rate mortgage that normally tracks the Bank of England base rate. The tracker element means that your monthly repayments go up or down in line with movements in the base rate.

If you want a more precise figure or need help finding the cheapest mortgage interest rates, you can talk to an expert mortgage broker.

How can I get a bigger mortgage?

If the results shown on the mortgage borrowing calculator are too low to buy the property you want, there are a number of options open to you. These include:

  • Saving a bigger deposit: If the mortgage loan you can get only covers 80% of the property you want to buy, you could afford it with a 20% deposit. Here is how to save up a deposit.

  • Finding a guarantor: If you can’t save enough, some mortgages let you apply with a guarantor instead of a deposit. If you miss your mortgage payments, your guarantor has to cover them.

  • Talking to a broker: Some lenders could give you a bigger mortgage than others, and brokers can work out which ones are most likely to lend you more. Contact a broker for advice on how to get accepted.

Last updated: 11 December, 2021