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How much can you borrow · Monthly repayments · Deposit scenarios
Maximum Borrowing
On a £115,000 salary, you can borrow up to £517,500 (4.5× income). Monthly repayment: £3,025.25 at 5% over 25 years.
Max Mortgage
£517,500
Monthly Payment
£3,025.25
Take-Home After
£3,162.86
% of Income
49%
| Deposit | Property Price | Deposit Amount | Monthly Payment | Left Over |
|---|---|---|---|---|
| 5% | £544,737 | £27,237 | £3,025.25 | £3,162.86 |
| 10% | £575,000 | £57,500 | £3,025.25 | £3,162.86 |
| 15% | £608,824 | £91,324 | £3,025.25 | £3,162.86 |
| 20% | £646,875 | £129,375 | £3,025.25 | £3,162.86 |
Based on 4.5× income multiplier, 5% interest rate, 25-year term. Actual rates and multipliers vary by lender.
| Deposit | Property Price | Standard | First-Time Buyer |
|---|---|---|---|
| 5% | £544,737 | £14,737 | £5,987 |
| 10% | £575,000 | £16,250 | £7,500 |
| 15% | £608,824 | £17,941 | £9,191 |
| 20% | £646,875 | £19,844 | £19,844 |
England & Wales standard residential rates. First-time buyer relief applies to properties up to £625,000.
Financial advisers recommend spending no more than 30% of your take-home pay on housing. On a £115,000 salary with monthly take-home of £6,188.12:
Max Monthly Housing
£1,856.43
Comfortable Mortgage
£317,562
Conservative (4×)
£460,000
£2,689.11/mo
| Item | Annual | Monthly |
|---|---|---|
| Gross Salary | £115,000 | £9,583.33 |
| Income Tax | −£36,432.00 | −£3,036.00 |
| National Insurance | −£4,310.60 | −£359.22 |
| Take-Home Pay | £74,257.40 | £6,188.12 |
Want to see how pension contributions or student loans affect your mortgage affordability?
Use the Full CalculatorDisclaimer: These are estimates for illustration only. Actual mortgage offers depend on credit score, existing debts, lender criteria, and property valuation. Consult a mortgage adviser for personalised guidance.