Mortgage Affordability Calculator: Roughly What Could You Borrow?

Lenders typically offer around 4 to 4.5 times annual income, adjusted for your outgoings. Enter income and deposit below for a realistic borrowing RANGE and the price bracket it puts you in, on screen, no signup. It's deliberately a range, not a single number: every lender weighs outgoings, credit and stress tests differently, so a point figure would be false precision. A planning figure, not a lender decision.

No signup. The 4–4.5× income rule of thumb lenders start from: a planning range, not a lender decision.

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How lenders really decide

The 4–4.5× income multiple is where lenders start, not where they finish. From there they deduct the effect of committed outgoings (loans, cards, childcare), consider dependants and credit history, and stress-test whether you could still pay if rates rose. That's why two households with the same income can be offered different amounts, and why this page shows a range and calls it a planning figure.

Worked example

A couple with a £62,000 combined income and a £40,000 deposit, with modest commitments: 4–4.5× income gives a borrowing range of about £248,000–£279,000, suggesting a search bracket around £288,000–£319,000 once the deposit is added. Significant monthly commitments pull the range down: the calculator deducts them from income before applying the multiple.

What lifts or lowers your multiple

  • Committed outgoings: the biggest lever after income itself; clearing a car loan or card balance before applying can move the offer.
  • Credit history: thin or damaged files reduce both the multiple and the products available.
  • Deposit size: a lower loan-to-value doesn't change the income multiple much, but it unlocks cheaper rates and more lenders.
  • Dependants and childcare: counted as ongoing costs in most affordability models.

General education, not advice. A broker or lender applies the real rules to your file.

What this cannot tell you

This is not a Decision in Principle: only a lender can give one, after a credit check. It also can't see your credit file or apply any lender's actual stress rates. Use the range to set your bracket, then before you fall for a house at the top of it, work out the stamp duty and the monthly cost of actually owning it.

Frequently asked questions

How much mortgage can I borrow on my salary?
As a rule of thumb, 4–4.5 times gross annual income: £40,000 supports roughly £160,000–£180,000, and a £62,000 joint income roughly £248,000–£279,000. Lenders then adjust for monthly commitments, dependants, credit history and their own stress tests, which is why the calculator gives a range, not a promise.
Can we borrow more with a joint application?
Usually yes. The multiple applies to combined gross income, so two incomes raise the range directly, and combining deposits improves your loan-to-value, which can also unlock better rates. Enter the second applicant's income in the calculator to see the combined range.
Why does the calculator show a range, not one number?
Because the honest answer IS a range. Every lender weighs outgoings, credit history and stress tests differently, and the same applicant can be offered meaningfully different amounts by different lenders on the same day. A single figure would be false precision. The range sets your search bracket; a lender sets the number.
Is this the same as a mortgage in principle?
No. A Decision in Principle (or Agreement in Principle) comes from a lender after a credit check and is their provisional statement of what they'd lend you. This calculator is the arithmetic before that step. Use it to set the bracket you search in, then get a DIP before you offer.
Do outgoings really change what I can borrow?
Yes. Affordability rules mean committed outgoings (loans, credit card balances, childcare) can pull the multiple a lender applies below 4×. The calculator deducts your annualised monthly commitments from income before applying the multiple, which is a simplified version of the same effect.

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