ESTIMATED PROPERTY BUDGET
£0.00
Enter your income and deposit to calculate.
This calculator gives a simple estimate only. Actual mortgage affordability depends on lender criteria, credit history, outgoings and individual circumstances.
How to calculate mortgage affordability
Mortgage affordability is often estimated using your annual income, deposit amount and an income multiplier. Many lenders may use around 4 to 4.5 times annual income as a rough guide, although this can vary.
Example: £40,000 income and £30,000 deposit
Using a 4.5× income estimate, borrowing could be around £180,000.
Adding a £30,000 deposit gives an estimated property budget of £210,000.
What affects mortgage affordability?
Mortgage affordability can be affected by income, deposit size, credit history, regular spending, debts, interest rates, mortgage term and lender criteria.
What this calculator is for
This affordability calculator gives a simple estimate of how much property you may be able to afford based on income, deposit and a selected income multiplier.
Important note
This calculator is for general guidance only and does not provide mortgage or financial advice. Lenders carry out their own affordability checks before approving a mortgage.
Common affordability examples
Affordability calculators are commonly used by first-time buyers, home movers and people comparing mortgage options.
Example: increasing your deposit
A larger deposit may improve affordability and reduce the amount you need to borrow.
Example: higher income multiples
Some lenders may offer higher borrowing multiples depending on income level, profession and financial circumstances.
Who may use this calculator?
This calculator may be useful for:
- first-time buyers
- home movers
- people planning a property purchase
- buyers comparing mortgage options
- homeowners planning to remortgage
Frequently Asked Questions
How do lenders calculate affordability?
Lenders may look at income, spending, debts, credit history and mortgage term when assessing affordability.
What is an income multiplier?
An income multiplier estimates how much you may be able to borrow based on annual income.
Does a larger deposit help?
Yes. A larger deposit can improve mortgage affordability and may help access better mortgage rates.
Can lenders offer more than 4.5× income?
Some lenders may offer higher income multiples depending on circumstances and affordability checks.
Is this calculator guaranteed to match lender decisions?
No. This calculator gives a general estimate only and lender decisions may vary.