How Much Do You Need to Earn to Get a Mortgage?
UK mortgage lenders typically offer between 3.5x and 5.5x your annual income. This table shows the salary you need to buy a property at every price point from £100,000 to £1,000,000, with 90% LTV, monthly payments at 5% interest, and stamp duty costs.
| Property Price | Mortgage (90% LTV) | Salary Needed (4.5x) | Monthly Payment (5%) | Stamp Duty |
|---|---|---|---|---|
| £100,000 | £90,000 | £20,000 | £526/mo | £0 |
| £125,000 | £112,500 | £25,000 | £658/mo | £0 |
| £150,000 | £135,000 | £30,000 | £789/mo | £500 |
| £175,000 | £157,500 | £35,000 | £921/mo | £1,000 |
| £200,000 | £180,000 | £40,000 | £1,052/mo | £1,500 |
| £225,000 | £202,500 | £45,000 | £1,184/mo | £2,000 |
| £250,000 | £225,000 | £50,000 | £1,315/mo | £2,500 |
| £275,000 | £247,500 | £55,000 | £1,447/mo | £3,750 |
| £300,000 | £270,000 | £60,000 | £1,578/mo | £5,000 |
| £325,000 | £292,500 | £65,000 | £1,710/mo | £6,250 |
| £350,000 | £315,000 | £70,000 | £1,841/mo | £7,500 |
| £375,000 | £337,500 | £75,000 | £1,973/mo | £8,750 |
| £400,000 | £360,000 | £80,000 | £2,105/mo | £10,000 |
| £425,000 | £382,500 | £85,000 | £2,236/mo | £11,250 |
| £450,000 | £405,000 | £90,000 | £2,368/mo | £12,500 |
| £475,000 | £427,500 | £95,000 | £2,499/mo | £13,750 |
| £500,000 | £450,000 | £100,000 | £2,631/mo | £15,000 |
| £525,000 | £472,500 | £105,000 | £2,762/mo | £16,250 |
| £550,000 | £495,000 | £110,000 | £2,894/mo | £17,500 |
| £575,000 | £517,500 | £115,000 | £3,025/mo | £18,750 |
| £600,000 | £540,000 | £120,000 | £3,157/mo | £20,000 |
| £625,000 | £562,500 | £125,000 | £3,288/mo | £21,250 |
| £650,000 | £585,000 | £130,000 | £3,420/mo | £22,500 |
| £675,000 | £607,500 | £135,000 | £3,551/mo | £23,750 |
| £700,000 | £630,000 | £140,000 | £3,683/mo | £25,000 |
| £725,000 | £652,500 | £145,000 | £3,814/mo | £26,250 |
| £750,000 | £675,000 | £150,000 | £3,946/mo | £27,500 |
| £775,000 | £697,500 | £155,000 | £4,078/mo | £28,750 |
| £800,000 | £720,000 | £160,000 | £4,209/mo | £30,000 |
| £825,000 | £742,500 | £165,000 | £4,341/mo | £31,250 |
| £850,000 | £765,000 | £170,000 | £4,472/mo | £32,500 |
| £875,000 | £787,500 | £175,000 | £4,604/mo | £33,750 |
| £900,000 | £810,000 | £180,000 | £4,735/mo | £35,000 |
| £925,000 | £832,500 | £185,000 | £4,867/mo | £36,250 |
| £950,000 | £855,000 | £190,000 | £4,998/mo | £38,750 |
| £975,000 | £877,500 | £195,000 | £5,130/mo | £41,250 |
| £1,000,000 | £900,000 | £200,000 | £5,261/mo | £43,750 |
Monthly payments based on 25-year repayment mortgage at 5% interest. Stamp duty for England (standard buyer). 10% deposit assumed.
Salary needed by income multiple
Different lenders use different income multiples. Here is the salary you need at 3.5x (conservative), 4.5x (standard), and 5.5x (specialist/generous):
| Property Price | Deposit (10%) | 3.5x (Conservative) | 4.5x (Standard) | 5.5x (Specialist) | Stamp Duty (FTB) |
|---|---|---|---|---|---|
| £100,000 | £10,000 | £25,714 | £20,000 | £16,364 | £0 |
| £125,000 | £12,500 | £32,143 | £25,000 | £20,455 | £0 |
| £150,000 | £15,000 | £38,571 | £30,000 | £24,545 | £0 |
| £175,000 | £17,500 | £45,000 | £35,000 | £28,636 | £0 |
| £200,000 | £20,000 | £51,429 | £40,000 | £32,727 | £0 |
| £225,000 | £22,500 | £57,857 | £45,000 | £36,818 | £0 |
| £250,000 | £25,000 | £64,286 | £50,000 | £40,909 | £0 |
| £275,000 | £27,500 | £70,714 | £55,000 | £45,000 | £0 |
| £300,000 | £30,000 | £77,143 | £60,000 | £49,091 | £0 |
| £325,000 | £32,500 | £83,571 | £65,000 | £53,182 | £1,250 |
| £350,000 | £35,000 | £90,000 | £70,000 | £57,273 | £2,500 |
| £375,000 | £37,500 | £96,429 | £75,000 | £61,364 | £3,750 |
| £400,000 | £40,000 | £102,857 | £80,000 | £65,455 | £5,000 |
| £425,000 | £42,500 | £109,286 | £85,000 | £69,545 | £6,250 |
| £450,000 | £45,000 | £115,714 | £90,000 | £73,636 | £7,500 |
| £475,000 | £47,500 | £122,143 | £95,000 | £77,727 | £8,750 |
| £500,000 | £50,000 | £128,571 | £100,000 | £81,818 | £10,000 |
| £525,000 | £52,500 | £135,000 | £105,000 | £85,909 | £16,250 |
| £550,000 | £55,000 | £141,429 | £110,000 | £90,000 | £17,500 |
| £575,000 | £57,500 | £147,857 | £115,000 | £94,091 | £18,750 |
| £600,000 | £60,000 | £154,286 | £120,000 | £98,182 | £20,000 |
| £625,000 | £62,500 | £160,714 | £125,000 | £102,273 | £21,250 |
| £650,000 | £65,000 | £167,143 | £130,000 | £106,364 | £22,500 |
| £675,000 | £67,500 | £173,571 | £135,000 | £110,455 | £23,750 |
| £700,000 | £70,000 | £180,000 | £140,000 | £114,545 | £25,000 |
| £725,000 | £72,500 | £186,429 | £145,000 | £118,636 | £26,250 |
| £750,000 | £75,000 | £192,857 | £150,000 | £122,727 | £27,500 |
| £775,000 | £77,500 | £199,286 | £155,000 | £126,818 | £28,750 |
| £800,000 | £80,000 | £205,714 | £160,000 | £130,909 | £30,000 |
| £825,000 | £82,500 | £212,143 | £165,000 | £135,000 | £31,250 |
| £850,000 | £85,000 | £218,571 | £170,000 | £139,091 | £32,500 |
| £875,000 | £87,500 | £225,000 | £175,000 | £143,182 | £33,750 |
| £900,000 | £90,000 | £231,429 | £180,000 | £147,273 | £35,000 |
| £925,000 | £92,500 | £237,857 | £185,000 | £151,364 | £36,250 |
| £950,000 | £95,000 | £244,286 | £190,000 | £155,455 | £38,750 |
| £975,000 | £97,500 | £250,714 | £195,000 | £159,545 | £41,250 |
| £1,000,000 | £100,000 | £257,143 | £200,000 | £163,636 | £43,750 |
Understanding mortgage income multiples
When you apply for a mortgage, the lender calculates how much you can borrow based on a multiple of your gross annual income. The three main tiers are:
3.5x income (conservative)
This is the most cautious lending criterion, often used by building societies or for applicants with lower credit scores, high existing debts, or non-standard income (e.g. self-employed). If you earn £40,000, you could borrow up to £140,000 at 3.5x.
4.5x income (standard)
The most common multiple used by high-street banks for employed applicants with good credit. On £40,000, this means borrowing up to £180,000. This is the figure most people should use for initial planning.
5.5x income (specialist/generous)
Some lenders offer higher multiples for professionals (doctors, lawyers, accountants), applicants with large deposits, or those with very high incomes. On £40,000, this allows borrowing up to £220,000. Joint applicants may also access higher multiples.
Other factors lenders consider
- Stress testing: Lenders must check you can afford payments if rates rise by 3% above the standard variable rate (typically testing at 8-9%)
- Existing debts: Credit card payments, car finance, and student loans all reduce what you can borrow
- Deposit size: A larger deposit (lower LTV) may unlock better rates and higher borrowing
- Employment type: Self-employed applicants typically need 2-3 years of accounts
- Credit history: Missed payments, CCJs, or defaults will limit your options
Total upfront costs
When buying a property, you need more than just the deposit. Budget for:
- Deposit: Minimum 5%, but 10-20% unlocks better mortgage rates
- Stamp duty: See the table above, or use our stamp duty calculator
- Solicitor fees: Typically £1,000 – £2,500
- Survey: £250 – £1,500 depending on type
- Mortgage arrangement fee: £0 – £2,000 (can often be added to the loan)
Monthly payment assumptions
The monthly payments in the table above are calculated using a 25-year repayment mortgage at 5% interest. Your actual rate will depend on your LTV, credit score, and the current market. Use our mortgage calculator to see payments at different rates and terms.