Free calculator
How much can I afford to borrow?
Get a realistic estimate of your maximum property budget before you start viewing. Enter your income and deposit, and the calculator shows roughly how much you could borrow and the price range to aim for.
Maximum property price
£232,500
- Maximum borrowing (4.5× income)
- £202,500
- Your deposit
- £30,000
- Est. monthly repayment
- £1,126/mo
Estimate based on a 4.5× loan-to-income cap and an illustrative 4.5% rate over 25 years. Some lenders offer up to 5.5× for higher earners. Affordability also depends on credit history and outgoings.
How lenders decide what you can borrow
Mortgage lenders start with a multiple of your annual income — usually about 4.5 times your salary, combining both incomes if you’re buying with someone else. That sets the ceiling. They then check it’s genuinely affordable by looking at your spending, existing credit commitments, and whether you could still cope if interest rates climbed.
Your deposit sits on top of the borrowing figure. So if you could borrow £200,000 and have a £30,000 deposit, your maximum budget is around £230,000 — though a larger deposit also tends to win you a sharper interest rate.
What can change the number
Outstanding loans, credit cards and car finance reduce what you can borrow. So can a lot of dependants or irregular income. On the other hand, a clean credit file, a stable salary and a bigger deposit all work in your favour. Treat the figure above as a starting point, then refine it with a broker.
Frequently asked questions
How much can I borrow for a mortgage?
As a rule of thumb, UK lenders cap borrowing at around 4.5 times your annual income — so £45,000 of income points to roughly £200,000 of borrowing. Some lenders stretch to 5–5.5 times for higher earners or specific professions, but 4.5× is the realistic starting point this calculator uses.
Do lenders only look at my income?
No. Income sets the ceiling, but lenders also run an affordability assessment: your regular outgoings, existing debts, number of dependants, and a “stress test” checking you could still pay if rates rose. Two people on the same salary can be offered different amounts.
Does a bigger deposit let me borrow more?
A bigger deposit doesn’t raise the income-based borrowing cap, but it does increase your total budget and lowers your loan-to-value — which usually unlocks better interest rates and lower monthly payments. The calculator adds your deposit on top of the maximum borrowing.
Is this the same as an agreement in principle?
No. This is a rough estimate to help you set a budget. A lender’s formal check produces an agreement (or offer) in principle, which sellers will often want to see before accepting your offer.
Know your budget? Find your home.
Woosh connects you with vetted mortgage brokers directly — no cold calls — and shows every cost upfront so your budget stays honest from search to completion.
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