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How much can you borrow · Monthly repayments · Deposit scenarios
Maximum Borrowing
On a £55,000 salary, you can borrow up to £247,500 (4.5× income). Monthly repayment: £1,446.86 at 5% over 25 years.
Max Mortgage
£247,500
Monthly Payment
£1,446.86
Take-Home After
£2,091.26
% of Income
41%
| Deposit | Property Price | Deposit Amount | Monthly Payment | Left Over |
|---|---|---|---|---|
| 5% | £260,526 | £13,026 | £1,446.86 | £2,091.26 |
| 10% | £275,000 | £27,500 | £1,446.86 | £2,091.26 |
| 15% | £291,176 | £43,676 | £1,446.86 | £2,091.26 |
| 20% | £309,375 | £61,875 | £1,446.86 | £2,091.26 |
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% | £260,526 | £526 | £0 |
| 10% | £275,000 | £1,250 | £0 |
| 15% | £291,176 | £2,059 | £0 |
| 20% | £309,375 | £2,969 | £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 £55,000 salary with monthly take-home of £3,538.12:
Max Monthly Housing
£1,061.44
Comfortable Mortgage
£181,569
Conservative (4×)
£220,000
£1,286.10/mo
| Item | Annual | Monthly |
|---|---|---|
| Gross Salary | £55,000 | £4,583.33 |
| Income Tax | −£9,432.00 | −£786.00 |
| National Insurance | −£3,110.60 | −£259.22 |
| Take-Home Pay | £42,457.40 | £3,538.12 |
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.