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If you’re a first-time buyer, you might have heard from people who have bought previously that the most you can borrow is around 4.5 times your income.
In 2026, though, that’s no longer true, as many lenders are willing to offer more – to the right borrowers.
Here’s how to maximise your borrowing and what you should consider before doing so.
Lenders conduct thorough affordability assessments
When a mortgage lender offer you a loan, they have a duty to make sure you can afford to repay it.
So, they look at a range of data including your:
- Income and source of income
- Typical spending
- Debts and credit history
- Size of deposit
So, no single factor determines how much you can borrow. That said, there’s one number that usually acts as an upper limit.
Your borrowing is likely capped by an ‘income multiple’
Most lenders will only lend up to a certain multiple of your salary (or total income, if not a salaried employee).
For example, if your income is £40,000 and the lender’s maximum income multiple is four, they’ll lend you £160,000 at most.
If you’re buying as a couple, lenders will consider your combined income. So, if your salary is £40,000, your partner’s is £37,500, and the lender’s maximum income multiple is four, they’ll lend you £310,000 at most.
For years, most lenders have offered mortgages at a maximum income multiple of 4.5. Recently, though, we’re seeing higher income multiples available.
For many buyers, 4.5 times your income still serves as a rough guide to affordability. However, some lenders are willing to go higher, particularly if:
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- You have a higher income, e.g. over £75,000 or £100,000
- You have a lower loan-to-value (LTV), e.g. 75 per cent or 85 per cent, which necessitates a higher deposit level
- You’re applying for a joint mortgage.
Here are some of the lenders who’ll currently offer more to some borrowers:
Up to 5x income
Coventry Building Society, Halifax, TSB, Melton BS, Mansfield BS, Newbury BS
Up to 5.5x income
Accord Mortgages, Aldermore, Bluestone Mortgages, Gen H, Nottingham BS, Santander, Virgin Money
Up to 6x income
Atom Bank, Barclays, Nationwide BS, Bath BS, Gatehouse Bank, Leeds BS, Metro Bank, Precise Mortgages
Up to 6.5x income
HSBC Premier Account customers, Tipton BS
Up to 7x income
April Mortgages
What counts as income
Different lenders consider different forms of income.
As well as employment or self-employment income, they might consider bonuses, commission, bursaries, stipends, and pension, lodger, or benefit income.
If your income isn’t regular – for example, if you’re a freelance worker or have a zero-hours contract, lenders calculate it in different ways.
Some might take an average of the last three years, for example, while others might let you exclude a particularly low-earning year.
How to get the highest income multiples
You can’t control whether you’re applying for a sole or joint mortgage, but you might have some control over your LTV and income.
For example, if you’re buying a property worth £300,000 and your deposit is £40,000, your LTV is 87 per cent. By adding another £5,000 to your deposit, you’ll bring your LTV down to 85 per cent, which could give you access to higher income multiple mortgages.
Similarly, if your salary at work is £70,000 but you also have a side hustle generating £5,000, that extra cash could help you reach a higher income multiple.
You’ll need to find out which lenders will consider that income (since it’s less reliable than your salary).
Downsides of borrowing more
A lot of people want to stretch their borrowing to its full potential to get the most valuable property possible, but there are some downsides to consider:
- You’ll pay a lot more interest over the lifetime of larger loans
- More expensive properties often have higher ongoing costs
- You’ll have less surplus income to spend on other things
- You might miss out on other investment opportunities
- You’re more vulnerable to rising interest rates.
Lenders are responsible for stress-testing your ability to afford rising mortgage repayments. For example, they’ll examine your ability to make repayments were interest rates to surge much higher than their present, real rate.
Still, you might like to make your own calculations, as your view of the minimum cost of living might differ from your mortgage provider’s.
To maximise your borrowing or discuss what you can afford, it can be worth speaking to a mortgage broker. They have a lot of experience in this area and will often advise for free.
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