Mortgage affordability
Enter your income (and a deposit if you have one) to estimate a maximum mortgage and property price. This is a simple estimate and different lenders may use different criteria.
We estimate borrowing as (total income × borrowing multiple). Use this as a guide, not a guarantee.
Results
These are estimates based on your inputs.
How this calculator works
We estimate your maximum mortgage by multiplying your total annual income by a borrowing multiple. We then add your deposit (if provided) to estimate a maximum property price.
This is a simple estimate. Real affordability depends on lender criteria, interest rates, your credit history, and monthly commitments (such as loans, credit cards, childcare, and other outgoings).
What this calculator does
This mortgage affordability calculator estimates the maximum mortgage you could borrow based on income and a borrowing multiple. If you add a deposit, it also estimates a maximum property price.
It is a quick planning tool for first-pass budgets, not a formal lending decision.
How the formula works
The calculator multiplies your total annual income by a borrowing multiple (often 4 to 4.5× in the UK) to estimate the maximum mortgage. If you include a deposit, we add it to estimate a maximum property price.
This does not account for lender stress tests, credit history, or existing commitments, which can lower the amount you can borrow.
Worked example
Example: a household earns £55,000 and £35,000, with a borrowing multiple of 4.5×. Total income is £90,000, so the maximum mortgage is about £405,000. With a £30,000 deposit, the estimated maximum property price is about £435,000.
If you reduce the multiple to 4×, the estimated maximum mortgage falls to £360,000.
Common mistakes
- Using gross income when your lender bases affordability on net income.
- Ignoring existing debts, childcare costs, or credit commitments.
- Assuming the highest multiple applies in all cases.
- Forgetting to budget for fees and ongoing ownership costs.
When to use this calculator
Use this early in your property search to get a rough borrowing range. Once you know the mortgage size, use the Mortgage payment calculator to estimate monthly repayments.
FAQs
Is the borrowing multiple fixed?
No. Different lenders use different multiples based on income, credit, and affordability checks.
Does this include first-time buyer schemes?
No. Schemes such as shared ownership or Help to Buy can change affordability and deposit requirements.
What if I have a large deposit?
A larger deposit increases the property price you could afford, but the mortgage amount is still limited by income and lender rules.