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How much can you borrow · Monthly repayments · Deposit scenarios
Maximum Borrowing
On a £120,000 salary, you can borrow up to £540,000 (4.5× income). Monthly repayment: £3,156.79 at 5% over 25 years.
Max Mortgage
£540,000
Monthly Payment
£3,156.79
Take-Home After
£3,169.41
% of Income
50%
| Deposit | Property Price | Deposit Amount | Monthly Payment | Left Over |
|---|---|---|---|---|
| 5% | £568,421 | £28,421 | £3,156.79 | £3,169.41 |
| 10% | £600,000 | £60,000 | £3,156.79 | £3,169.41 |
| 15% | £635,294 | £95,294 | £3,156.79 | £3,169.41 |
| 20% | £675,000 | £135,000 | £3,156.79 | £3,169.41 |
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% | £568,421 | £15,921 | £7,171 |
| 10% | £600,000 | £17,500 | £8,750 |
| 15% | £635,294 | £19,265 | £19,265 |
| 20% | £675,000 | £21,250 | £21,250 |
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 £120,000 salary with monthly take-home of £6,326.20:
Max Monthly Housing
£1,897.86
Comfortable Mortgage
£324,648
Conservative (4×)
£480,000
£2,806.03/mo
| Item | Annual | Monthly |
|---|---|---|
| Gross Salary | £120,000 | £10,000.00 |
| Income Tax | −£39,675.00 | −£3,306.25 |
| National Insurance | −£4,410.60 | −£367.55 |
| Take-Home Pay | £75,914.40 | £6,326.20 |
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.