If you’re planning to buy a home, one of the most important questions you’ll ask is: “How much mortgage can I get?” Whether you’re a first-time buyer, moving home, or remortgaging, knowing your borrowing limit is essential for budgeting and making the right property decisions. In this post, we’ll explain how mortgage lenders calculate your borrowing power, what impacts it, and how Everest Mortgages can help you secure the best deal.
What Affects How Much You Can Borrow?
Mortgage lenders in the UK consider several key factors when deciding how much they’re willing to lend:
1. Your Income
Most lenders offer between 4 and 4.5 times your annual income, but in some cases—especially for first-time buyers—you may be able to borrow up to 6 times your salary, depending on your credit score, profession, and the lender’s criteria.
For joint applications, both incomes are combined, increasing the total borrowing potential.
2. Your Monthly Expenses
Lenders will review your monthly financial commitments such as loans, credit cards, childcare costs, and utility bills. This affordability check ensures you can comfortably make repayments even if interest rates rise.
3. Your Credit History
A strong credit score improves your chances of borrowing more and accessing better interest rates. If your credit history is poor, you might still get approved, but at a lower amount or higher rate.
4. Deposit Amount
A larger deposit means a lower loan-to-value (LTV) ratio, which improves your chances of borrowing more and accessing better mortgage deals. Most lenders require at least 5% deposit, but 10–15% often gives you more flexibility and better rates.
5. Mortgage Term
Opting for a longer mortgage term (like 30 or 35 years) spreads the repayments over more time, potentially increasing how much you can borrow. However, this also means paying more interest overall.
Special Rates for First-Time Buyers
Many lenders offer enhanced affordability for first-time buyers, especially those in certain professions (like doctors, teachers, or lawyers). Some may allow up to 6x salary borrowing on low-deposit mortgages, subject to affordability and credit checks.
At Everest Mortgages, we work with specialist lenders who go beyond high-street criteria to help first-time buyers get on the property ladder with realistic borrowing power.
Want a Quick Estimate?
Use our free online mortgage calculator at everest-mortgages.co.uk to get an instant idea of how much you could borrow. For a more accurate figure, speak to one of our expert mortgage advisors.
Let Everest Mortgages Do the Hard Work
We search the whole of the mortgage market to find deals tailored to your financial situation, goals, and future plans. Whether you’re employed, self-employed, or a first-time buyer, our team of experienced advisors is here to make the process simple and stress-free.
Ready to Find Out How Much Mortgage You Can Get?
Don’t leave it to guesswork. Let Everest Mortgages guide you every step of the way.
👉 Visit everest-mortgages.co.uk
📞 Or speak to a friendly advisor today.
Your journey starts here—with Everest Mortgages.
