Salary for Mortgage FAQs
What salary do I need for a £300,000 house?
With a £30,000 deposit (10%) you would borrow £270,000, which needs a salary of about £60,000 at a typical 4.5× income multiple. As a couple, two salaries of £30,000 each achieve the same. With a bigger 20% deposit of £60,000, the required salary falls to around £53,300 · use the inputs above to model your exact numbers.
How many times my salary can I borrow?
Most UK lenders offer around 4.5 times your annual income. Some stretch to 5 or even 5.5 times for higher earners, certain professions (doctors, solicitors, accountants) or specific first-time buyer products. Regulators limit how much of each lender's lending can exceed 4.5×, so the higher multiples usually require strong credit, higher income and low outgoings.
Does a joint mortgage double what we can borrow?
Broadly yes: lenders apply the income multiple to your combined income, so two £30,000 salaries support roughly the same loan as one £60,000 salary. Affordability checks still look at combined outgoings, existing debts and childcare costs, which can pull the effective multiple down in practice.
What else do lenders check besides salary?
Affordability and stress testing. Lenders tot up your monthly commitments (loans, credit cards, childcare, maintenance) and then test whether you could still pay if rates rose around 3 percentage points above the product rate. A large salary with large outgoings can fail affordability, while a modest salary with a clean file can pass at a higher multiple. Bonuses and overtime usually count at 50-60%.
Does the deposit change the salary I need?
Directly. Every extra £1,000 of deposit cuts the borrowing by £1,000, which cuts the salary needed by about £222 at 4.5×. A bigger deposit also unlocks cheaper rates at the 90%, 85% and 75% loan-to-value bands, so both the required salary and the monthly repayment fall. If saving the deposit is the bottleneck, see our Deposit Savings and Lifetime ISA tools.
For informational purposes only · Not mortgage advice · Actual lending depends on affordability checks, credit history, outgoings and lender criteria · Take-home comparison assumes 2026/27 tax and NI, standard tax code · Speak to a mortgage broker for personalised figures