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Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.
Your Results:
You could borrow up to
Most lenders would consider letting you borrow
This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.
Some lenders would consider letting you borrow
This is based on 4.75 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.
A minority of lenders would consider letting you borrow
This is based on 5.5 times your household income, a salary multiple you will struggle to get without a broker. 5.5 times salary mortgages are usually only available under very specific circumstances.
Get Started with an expert broker to find out exactly how much you could borrow.
Get StartedWhat Our Clients Say About Us
Purchasing a home is a significant financial commitment, and understanding how much you can borrow is crucial. One common benchmark is obtaining a mortgage 4.5 times salary. This guide will explain everything you need to know about securing a 4.5 times salary mortgage in the UK.
A mortgage of 4.5 times salary means that lenders are willing to loan you up to 4.5 times your annual income. For instance, if your yearly salary is £40,000, you might be eligible for a mortgage of up to £180,000. This multiple helps determine your borrowing power and affordability.
Mortgage multiples:
4.5 times salary mortgage: Up to 4.5 times your annual income.
4 times salary mortgage: Up to 4 times your annual income.
Lenders use these multiples to balance what they can offer you and what you can realistically afford to repay, considering your overall financial health.
Based on a mortgage of £300,000 at 75% LTV and 25 years Today’s best buy mortgages
Latest mortgage best buys
See all mortgage best buysSpeak with Us Interest Rate Mortgage Type Monthly Repayment Amount Total Fees Max LTV 3.92% Fixed £1,182 £1,099 75% 3.92% Fixed £1,185 £1,516 75% 3.93% Fixed £1,185 £1,025 75% 3.94% Fixed £1,186 £1,295 75%
The table below illustrates potential borrowing amounts:
Yearly Salary | 4 Times Salary | 4.5 Times Salary | 5 Times Salary |
£20,000 | £80,000 | £90,000 | £100,000 |
£30,000 | £120,000 | £135,000 | £150,000 |
£40,000 | £160,000 | £180,000 | £200,000 |
£50,000 | £200,000 | £225,000 | £250,000 |
£60,000 | £240,000 | £270,000 | £300,000 |
£70,000 | £280,000 | £315,000 | £350,000 |
£80,000 | £320,000 | £360,000 | £400,000 |
£90,000 | £360,000 | £405,000 | £450,000 |
£100,000 | £400,000 | £450,000 | £500,000 |
This table helps to understand the range of mortgage amounts you could potentially borrow based on your annual income and the income multiple applied by different lenders.
The required deposit typically ranges from 5% to 20% of the property’s value.
Here’s a quick reference:
Property Value (£) | 5% Deposit (£) | 10% Deposit (£) | 20% Deposit (£) |
50,000 | 2,500 | 5,000 | 10,000 |
60,000 | 3,000 | 6,000 | 12,000 |
70,000 | 3,500 | 7,000 | 14,000 |
80,000 | 4,000 | 8,000 | 16,000 |
90,000 | 4,500 | 9,000 | 18,000 |
100,000 | 5,000 | 10,000 | 20,000 |
A higher deposit may increase your chances of securing a mortgage 4.5 times salary UK and potentially reduce the interest rates you’ll be offered.
Use our Mortgage Affordability Calculator to determine how much you can borrow.
Example:
Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.
Your Results:
You could borrow up to
Most lenders would consider letting you borrow
This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.
Some lenders would consider letting you borrow
This is based on 4.75 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.
A minority of lenders would consider letting you borrow
This is based on 5.5 times your household income, a salary multiple you will struggle to get without a broker. 5.5 times salary mortgages are usually only available under very specific circumstances.
Get Started with an expert broker to find out exactly how much you could borrow.
Get StartedWhile the mortgage 4 times salary and 4.5 times salary mortgage are common, not all mortgages are based on these exact multiples. Lenders may adjust the multiple based on several factors:
Navigating the mortgage landscape can be complex. Speaking to a mortgage broker can help you understand:
Obtaining a 4.5 times salary mortgage with bad credit can be challenging but not impossible. Here are some strategies:
Yes, self-employed individuals can qualify for a 4.5 times income mortgage. However, they often face stricter criteria, such as:
Based on a mortgage of £300,000 at 75% LTV and 25 years
Speak with Us | Interest Rate | Mortgage Type | Monthly Repayment Amount | Total Fees | Max LTV |
---|---|---|---|---|---|
3.92% | Fixed | £1,182 | £1,099 | 75% | |
3.92% | Fixed | £1,185 | £1,516 | 75% | |
3.93% | Fixed | £1,185 | £1,025 | 75% | |
3.94% | Fixed | £1,186 | £1,295 | 75% |
Several factors can influence your borrowing limits beyond your salary:
Many UK lenders offer 4-4.5 times salary mortgages. Some prominent ones include:
Each lender has specific criteria and may offer different terms based on your financial profile.
In some cases, borrowing more than 4.5 times your salary is possible, particularly for high-income earners or those with exceptional financial profiles. However, it often involves:
Finding the right mortgage broker can make a significant difference. A broker experienced in higher multiple mortgages can:
Securing a mortgage 4.5 times salary UK is a viable option for many homebuyers. By understanding the criteria, speaking to experts, and exploring various lenders, you can find the best mortgage to suit your needs. Start by calculating your affordability and consult a broker to navigate the process smoothly.
Get things moving, apply for a remortgage.
Free unbiased mortgage advice is just a phone call away.
A mortgage 4.5 times salary means that lenders are willing to loan you up to 4.5 times your annual income. For example, if your annual salary is £40,000, you may be eligible for a mortgage of up to £180,000. This multiple helps determine your borrowing power based on your income.
The deposit required usually ranges from 5% to 20% of the property’s value. For a property valued at £100,000, this would mean a deposit of between £5,000 (5%) and £20,000 (20%).
No, not all mortgages are based on the 4 or 4.5 times salary multiple. Lenders may adjust the multiple based on factors such as your credit score, income stability, and existing debts.
Obtaining a 4.5 times salary mortgage with bad credit is more challenging, but possible. Strategies include improving your credit score, providing a higher deposit, and seeking specialist lenders who cater to bad credit borrowers.
Yes, self-employed individuals can qualify for a 4.5 times income mortgage, although they might face stricter criteria such as providing 2-3 years of accounts and demonstrating consistent or increasing income.
Several factors influence borrowing limits, including your debt-to-income ratio, loan term, interest rates, and overall financial health.
Many UK lenders offer 4-4.5 times salary mortgages, including HSBC, Barclays, NatWest, and Santander. Each lender has specific criteria and terms based on your financial profile.
In some cases, borrowing more than 4.5 times your salary is possible, particularly for high-income earners or those with exceptional financial profiles. However, this often involves stricter lending criteria and potentially higher interest rates.
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Ascot Mortgages authorised and regulated by the Financial Conduct Authority and can be found on the FCA register (www.fca.org.uk) under reference 776062. The FCA do not regulate some forms of mortgages. The guidance and advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £599 per mortgage account. Ascot Mortgages Ltd give you the option to pay a non-refundable fee of £1299 payable with the application. If this option is taken, Ascot Mortgages Ltd will refund any procuration fee received by the lender.
Ascot Mortgages Limited is registered in England and Wales and have their registered office at 8 Webster Court, Westbrook, Warrington, WA5 8WD. The company’s registration number is 06764971.
We are a credit broker, not a lender. We work with the whole of the lending market. We may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature any commissions model will be confirmed to you before you proceed.
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