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How much can you borrow · Monthly repayments · Deposit scenarios
Maximum Borrowing
On a £40,000 salary, you can borrow up to £180,000 (4.5× income). Monthly repayment: £1,052.26 at 5% over 25 years.
Max Mortgage
£180,000
Monthly Payment
£1,052.26
Take-Home After
£1,641.04
% of Income
39%
| Deposit | Property Price | Deposit Amount | Monthly Payment | Left Over |
|---|---|---|---|---|
| 5% | £189,474 | £9,474 | £1,052.26 | £1,641.04 |
| 10% | £200,000 | £20,000 | £1,052.26 | £1,641.04 |
| 15% | £211,765 | £31,765 | £1,052.26 | £1,641.04 |
| 20% | £225,000 | £45,000 | £1,052.26 | £1,641.04 |
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% | £189,474 | £0 | £0 |
| 10% | £200,000 | £0 | £0 |
| 15% | £211,765 | £0 | £0 |
| 20% | £225,000 | £0 | £0 |
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 £40,000 salary with monthly take-home of £2,693.30:
Max Monthly Housing
£807.99
Comfortable Mortgage
£138,215
Conservative (4×)
£160,000
£935.34/mo
| Item | Annual | Monthly |
|---|---|---|
| Gross Salary | £40,000 | £3,333.33 |
| Income Tax | −£5,486.00 | −£457.17 |
| National Insurance | −£2,194.40 | −£182.87 |
| Take-Home Pay | £32,319.60 | £2,693.30 |
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.