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How much can I borrow for a mortgage?

The amount you can borrow depends on how much deposit you have, your credit history and your finances. Use our mortgage calculator to estimate how much you could borrow.

Amy Smith
Amy Smith
Updated 23 September 2021  | 2 min read

How much can I borrow?

What factors impact the amount you can borrow?

  1. Your income

    To give you an affordable mortgage, lenders need to know how much you earn from your job and other means, like bonuses or tax credits.

  2. Your outgoings

    Lenders also need to know how much of your income you spend, so they can work out how much you could put towards mortgage repayments.

  3. Your deposit

    The more deposit you contribute, the wider the choice of mortgages you’ll have.

  4. Your credit history

    Your credit score gives lenders an indication of how you manage your finances and pay bills. A good score shows you’re reliable, meaning you might be able to borrow more money.

  5. Potential future changes

    For example, if something happened to your income, lenders want to know how you’ll continue paying the mortgage. Or if interest rates went up, could you still afford to make the repayments?

Compare mortgages

It’s important to look at all your options to find the right mortgage for your circumstances.

When you apply for a full mortgage, it can affect your credit rating and leave a mark on your credit history that other lenders can see.

But you can use a search (like ours) that lets you compare a range of mortgages that you’re likely to be accepted for before you apply.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

PLEASE NOTE: THE FCA DOES NOT REGULATE MOST BUY TO LET MORTGAGES

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