How much could you borrow?
See your maximum mortgage, the property price it unlocks, monthly repayment, and how a +3% rate rise would change the picture.
Max property price
£243,000
£213,000 mortgage + £30,000 deposit (12.3% LTV)
Monthly repayment
£1,220
At 4.8% over 25 years
Stress-tested @ +3%
£1,616
If rate rose to 7.8%
How we got there
- Base max borrow (4.5× £50,000)
- £225,000
- Less outgoings adjustment (60× £200)
- –£12,000
- Affordable mortgage
- £213,000
- Total repayable (interest + principal)
- £366,145
- Total interest paid
- £153,145
Estimate only. Lenders apply their own credit checks, income types and stress tests. Multiples vary 4.0–5.5× depending on income, credit and product. Always seek a Decision in Principle from a broker before making an offer.
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What you might calculate next
How it works
Income multiple
Mainstream UK lenders typically cap borrowing at 4.5× annual gross income (combined for joint applications). A few specialist lenders go to 5–5.5× for high earners or specific professions.
Outgoings deduction
Existing credit card balances, personal loans and car finance reduce borrowing capacity. Lenders subtract roughly 60× the monthly outgoing from the income-based maximum.
Stress test (+3%)
Since 2014 (FCA Mortgage Market Review) lenders must check you can afford repayments if rates rose ~3% above the product rate. The Bank of England removed the formal requirement in Aug 2022 but most lenders still apply it.
Loan-to-Value (LTV)
Your deposit as a % of the property price. 95% LTV is the typical max; better rates are available at 90%, 85%, 80%, 75% and 60% bands. A 25% deposit (75% LTV) usually gets meaningfully cheaper rates.
Term length
Standard UK term is 25 years but 30, 35, and even 40 are increasingly common. Longer terms lower the monthly payment but increase total interest paid significantly.
What this doesn't include
Credit score, income type (PAYE vs self-employed), bonus reliability, recent credit defaults, property type (BTL, new-build, leasehold) — all affect what lenders will actually offer. Always get a broker Decision in Principle.