How much can I realistically borrow for a UK mortgage?

Most UK lenders offer 4 to 4.5 times your gross annual income, or combined income for joint applications. Some specialist lenders and certain professional schemes stretch to 5× or 5.5×. Final offer depends on credit score, existing debt, outgoings, and the stress-tested affordability at your lender.

What is the 4.5× income cap?

The Bank of England's Financial Policy Committee limits how much of any lender's new mortgage lending can be above 4.5 times income - not more than 15% of a large lender's flow (raised to 20% for some lenders after 2024). It's a portfolio cap, not a per-borrower rule. Individual borrowers can exceed 4.5× if the lender has capacity and affordability is strong.

What is the SDLT rate in England and Northern Ireland in 2026?

From 1 April 2025 the nil-rate band dropped back to £125,000 (from the temporary £250,000). Current rates: 0% up to £125k, 2% £125k-£250k, 5% £250k-£925k, 10% £925k-£1.5m, 12% above £1.5m. First-time buyers: 0% up to £300k, 5% £300k-£500k, no relief above £500k.

What is LBTT in Scotland in 2026?

Scotland's Land and Buildings Transaction Tax (LBTT): 0% up to £145k, 2% £145k-£250k, 5% £250k-£325k, 10% £325k-£750k, 12% above £750k. First-time buyers get the nil-rate threshold raised to £175,000 (max saving £600). The Scottish Budget 2026-27 kept rates unchanged.

What is LTT in Wales in 2026?

Wales uses Land Transaction Tax (LTT): 0% up to £225k, 6% £225k-£400k, 7.5% £400k-£750k, 10% £750k-£1.5m, 12% above £1.5m. Rates unchanged since 10 October 2022. Wales has no first-time-buyer relief - the nil-rate threshold is already the UK's highest.

Why is the stress test at +3pp?

Until August 2022, FCA rules required lenders to stress-test at revert rate + 3pp to protect borrowers against rate rises. The rule was removed, but lenders still use buffers of 1-3pp - +3pp is the conservative end and a useful personal sanity check.

What mortgage rate should I use?

As of April 2026 the Bank of England base rate is 3.75%, and typical 5-year fixed residential mortgage rates are around 4.25-4.75% for 75-80% LTV. The tool defaults to 4.5% as a mid-market indicative rate - check https://www.moneyfactscompare.co.uk or your broker for live deals.

How much cash do I need upfront beyond the deposit?

Beyond the deposit you'll need property-transaction tax (SDLT/LBTT/LTT) if applicable, plus ~£1,500-£2,500 for legal fees and surveys, ~£100-£400 for mortgage arrangement, and removal/stamp/insurance costs. This tool shows the deposit + property tax; add £2-3k on top for the rest.

Mortgage on a £70,000 UK Salary 2026/27

How much can you borrow for a UK mortgage on a £70,000 annual salary? Most UK lenders offer 4-4.5x gross income for sole applicants, with stretch options at 5x for strong affordability. Figures below assume a 4.5% mortgage rate over a 30-year term, England SDLT, first-time buyer status. Adjust the calculator on the main mortgage page for joint applicants, different rates, or other UK nations.

Conservative 4x

£280,000

Most lenders' default

Standard 4.5x

£315,000

FPC portfolio-cap threshold

Stretch 5x

£350,000

Strong affordability / specialist

Indicative monthly payment

Borrowing the 4.5x standard amount of £315,000 over 30 years at 4.5% gives a monthly payment of approximately £1,596. That's around 27.4% of gross income on housing - within typical lender affordability tests but worth modelling against your actual take-home from the £70,000 salary calculator.

Scenarios

Sole applicant - £50k deposit

Max property price: £365,000

Loan £315,000 + deposit £50,000
Joint with equal partner - £50k deposit

Max property price: £680,000

Loan £630,000 + deposit £50,000
Sole applicant - £25k deposit

Max property price: £340,000

Loan £315,000 + deposit £25,000

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Frequently asked questions

How much can I realistically borrow for a UK mortgage?: Most UK lenders offer 4 to 4.5 times your gross annual income, or combined income for joint applications. Some specialist lenders and certain professional schemes stretch to 5× or 5.5×. Final offer depends on credit score, existing debt, outgoings, and the stress-tested affordability at your lender.
What is the 4.5× income cap?: The Bank of England's Financial Policy Committee limits how much of any lender's new mortgage lending can be above 4.5 times income - not more than 15% of a large lender's flow (raised to 20% for some lenders after 2024). It's a portfolio cap, not a per-borrower rule. Individual borrowers can exceed 4.5× if the lender has capacity and affordability is strong.
What is the SDLT rate in England and Northern Ireland in 2026?: From 1 April 2025 the nil-rate band dropped back to £125,000 (from the temporary £250,000). Current rates: 0% up to £125k, 2% £125k-£250k, 5% £250k-£925k, 10% £925k-£1.5m, 12% above £1.5m. First-time buyers: 0% up to £300k, 5% £300k-£500k, no relief above £500k.
What is LBTT in Scotland in 2026?: Scotland's Land and Buildings Transaction Tax (LBTT): 0% up to £145k, 2% £145k-£250k, 5% £250k-£325k, 10% £325k-£750k, 12% above £750k. First-time buyers get the nil-rate threshold raised to £175,000 (max saving £600). The Scottish Budget 2026-27 kept rates unchanged.
What is LTT in Wales in 2026?: Wales uses Land Transaction Tax (LTT): 0% up to £225k, 6% £225k-£400k, 7.5% £400k-£750k, 10% £750k-£1.5m, 12% above £1.5m. Rates unchanged since 10 October 2022. Wales has no first-time-buyer relief - the nil-rate threshold is already the UK's highest.
Why is the stress test at +3pp?: Until August 2022, FCA rules required lenders to stress-test at revert rate + 3pp to protect borrowers against rate rises. The rule was removed, but lenders still use buffers of 1-3pp - +3pp is the conservative end and a useful personal sanity check.
What mortgage rate should I use?: As of April 2026 the Bank of England base rate is 3.75%, and typical 5-year fixed residential mortgage rates are around 4.25-4.75% for 75-80% LTV. The tool defaults to 4.5% as a mid-market indicative rate - check https://www.moneyfactscompare.co.uk or your broker for live deals.
How much cash do I need upfront beyond the deposit?: Beyond the deposit you'll need property-transaction tax (SDLT/LBTT/LTT) if applicable, plus ~£1,500-£2,500 for legal fees and surveys, ~£100-£400 for mortgage arrangement, and removal/stamp/insurance costs. This tool shows the deposit + property tax; add £2-3k on top for the rest.