How much can you borrow?
Lenders usually cap borrowing at a multiple of your income — commonly around 4.5 times, though it ranges from about 4 to 4.75 times depending on the lender and your circumstances. Existing monthly commitments such as loans, credit cards and car finance reduce how much you can borrow, and lenders also apply affordability “stress tests” to check you could cope if rates rose.
Your deposit is added to the amount you can borrow to give the maximum property price, and the size of your deposit affects the loan-to-value (LTV) and therefore the rates you'll be offered.
Worked example
Someone earning £35,000 with modest commitments could typically borrow around £145,000–£155,000 (roughly 4–4.75× income). With a £30,000 deposit that's a property price of around £175,000–£185,000.
How lenders decide what you can borrow
An income multiple is only the starting point. Lenders then run an affordability assessment, looking at your regular outgoings and "stress-testing" whether you could still pay if interest rates rose by a few percentage points. Two people on the same salary can be offered very different amounts depending on their commitments and spending patterns.
What counts as income
Most lenders count your basic salary in full and often a portion of regular bonus, overtime or commission. If you're self-employed, they'll typically want two or more years of accounts or tax calculations. Some pension and benefit income can also be included. The more stable and provable your income, the more of it a lender will rely on.
What reduces how much you can borrow
Existing debts are the biggest drag — personal loans, credit-card balances, car finance and buy-now-pay-later commitments all lower the figure. Childcare costs and the number of dependants also reduce affordability, because they cut the income available for a mortgage. Clearing or reducing debts before you apply can noticeably increase what you're offered.
Deposit, loan-to-value and rates
Your deposit sets your loan-to-value (LTV) — the loan as a percentage of the property price. A bigger deposit means a lower LTV, which usually unlocks lower interest rates and a wider choice of deals. Moving from a 10% deposit to 15% or 25% can make a real difference both to approval and to the rate you pay.
Frequently asked questions
How much can I borrow on a £35,000 salary?
Typically around 4 to 4.75 times income — roughly £140,000 to £166,000 — before adjusting for commitments. Lenders assess each application individually.
What income multiple do mortgage lenders use?
Most lenders lend up to about 4.5 times income, with some going a little higher for higher earners or certain professions. Affordability checks can lower this.
Do debts affect how much I can borrow?
Yes. Loans, credit cards, car finance and other commitments reduce the amount a lender will offer, because they lower your disposable income.
Is this a mortgage offer?
No. It's an estimate to help you plan. A lender's decision depends on their own affordability model, a credit check and other factors — speak to a broker for a real figure.
Does a bigger deposit help?
Yes. A larger deposit lowers your loan-to-value, which usually means access to lower interest rates and a higher chance of approval.