How much can I borrow?

Income, Type of Property and Deposit

Once you’ve got 20% deposit, you’ll find banks will be prepared to lend you just about anything. So unless you really like baked beans, it’s not really a question of how much can you borrow, but what you can afford. To give yourself a ballpark, enter your household income into our handy borrowing calculator.

CALCULATE WHAT YOU CAN AFFORD:

Your income

Your partner’s income

Calculate
Valid values required
You’ll be able to borrow between and
GET PRE-APPROVED NOW

Calculate based on how much you save

Here’s another calculator to help you work out how much you can afford to borrow.

CALCULATE WHAT YOU CAN AFFORD:

Your monthly rent

Your monthly savings

Calculate
Valid values required
You’ll be able to afford approximately
GET PRE-APPROVED NOW

Try living with your mortgage before you buy

To give you an idea of what you can afford in real terms, try setting up a bank account so that your savings (+rent) equate to your probable mortgage repayments. You’ll find out pretty quickly if you can cope or not.

Deposit: bigger is better

The more you have for a deposit the less you’ll pay in interest. 20% is ideal, but we can work with as little as 15% savings in the bank. Borrowing over 80% is trickier and gets expensive.

If you don’t have a wad of cash in the bank, you could use a limited guarantor or to borrow enough for a deposit through a second mortgage. The guarantee is usually against a parent’s property but we can also use term deposits as the security.