Getting a Mortgage for up to and over 5x Your Salary
The good news – from 100+ lenders, at least 33 will lend over 5x income, and 12 can go up to 6x.
We’ve helped thousands of customers secure 5x+ mortgages, and 10 of our experts specialise in higher-affordability lending.
Over the last 10 years, we’ve helped over 600,000 customers get the right advice. We guarantee to get your mortgage approved where others can’t – or we’ll give you £100
Over the last 10 years, we’ve helped over 600,000 customers get the right advice. We guarantee to get your mortgage approved where others can’t – or we’ll give you £100
Author: Pete Mugleston
CeMAP Mortgage Advisor, MD
Reviewed by: Graham Turner
Income and FTB Specialist
Quick Summary
In short, every lender is different and has maximum loan sizes they are prepared to lend when compared to your income.
Lenders offering 5 to 6 times your income are niche but available; there’s even a couple that can go higher than 6x (particularly for high-net-worth individuals, professionals, and applicants considered low risk).
Note that some lenders limit these higher income multiples to specific professions or cap the loan-to-value ratio at 85-90%. Others may offer more generous affordability assessments based on the type of deal you choose – for instance, longer-term fixed rates often allow for higher borrowing than shorter-term or variable options.
This is why we are here! Several advisors in our team are experts at maximising what you can borrow, so you’re in the right place. Make an enquiry, and one of the guys will give you certainty around exactly what you can afford, by calculating your specific maximum loan from lenders across the market.
Yes, it is possible. Each lender has their own ‘maximum income multiple’, meaning the maximum amount they’ll lend you as a multiple of your annual salary. Usually, they’ll allow you to borrow up to four times and 4.5 times your total annual income. But, in a few cases, you can borrow more, mainly if your income is high, e.g. over £60,000-100,000.
You may even be able to borrow more than 5.5 times your income. If you’re a young professional, e.g. an accountant, doctor, dentist, lawyer, or pilot, you might be able to get a mortgage for six times your salary.
The key criteria lenders will consider are the following:
- Job type
- Income type
- Income amount
- Any other income
- What debts, if any, you have
- Lender’s preference for certain mortgage rate types (5-year fixed rate, etc.)
Joint mortgages are common and calculated in the same way as a single one would be, the only difference being that both incomes would be considered. You may also have access to these higher-income multiple deals as you have more income.
Santander, Barclays, and Halifax all offer mortgages of up to 5.5 times your annual income in certain circumstances. Other lenders, including NatWest and Together Mortgages, do not have a specified maximum income multiple, as income is considered in the overall context of all the factors in their affordability assessment.
Higher borrowing multiples tend to attract higher rates, as lenders view them as riskier. However, the more attractive and secure you are to a lender, the more stable a borrower you will be considered and, therefore, rewarded with better rates.
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Understanding how much you can borrow
Here, you can see how much you could potentially borrow based on 5x and 5.5x your annual salary, comparing it to the standard of 4.5x. Note that 5.5-times-income mortgages often require an income of £60,000 or more.
| Salary | 4.5x | 5x | 5.5x |
|---|---|---|---|
| £25k | £112,500 | £125,000 | £137,500 |
| £30k | £135,000 | £150,000 | £165,000 |
| £35k | £157,500 | £175,000 | £192,500 |
| £45k | £202,500 | £225,000 | £247,500 |
| £55k | £247,500 | £275,000 | £302,500 |
| £65k | £292,500 | £325,000 | £357,500 |
| £75k | £337,500 | £375,000 | £412,500 |
| £85k | £382,500 | £425,000 | £467,500 |
| £95k | £427,500 | £475,000 | £522,500 |
| £105k | £472,500 | £525,000 | £577,500 |
Mortgage Affordability Calculator
Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.
Based on your total household income, you could borrow up to:
*
4.5x income
This is what most lenders would consider letting you borrow
5x income
Some lenders would consider letting you borrow this amount
6x income
Very few lenders would consider letting you borrow this amount
*To get exact numbers based on your specific income, outgoings, age and other info, you'll need to speak to one of our experts. Lending policies change regularly, so this is purely for illustrative purposes only, and is not tailored financial advice.
Speak to a mortgage expert about your options
- Free initial consultation with no obligation
- A dedicated expert team to handle everything for you
- Honest, unbiased advice from whole-of-market brokers
- Expert guidance tailored to your situation
We're so confident in our service, we guarantee it.
We know it's important for you to have complete confidence in our service, and trust that you're getting the best chance of mortgage approval at the best available rate. We guarantee to get your mortgage approved where others can't - or we'll give you £100*
How to borrow over 5x your salary
Your first step should be to find a mortgage broker with experience arranging mortgages based on this salary multiple. This will boost your chances of getting approved at the best terms available.
Using our service, you can speak directly with the right broker by enquiring online.
They’ll be able to help with:
- Readying all the necessary paperwork
- Downloading your credit reports
- Finding the right lender and securing the best deal for you
Other factors that affect your mortgage application
As well as your income, several other elements may determine the outcome of your application and how much you can borrow.
While most lenders will set their own set of criteria, there are some common principles you may find:
- Your spending habits and outgoings: While your salary might be high, how you manage that income might be key. The more prudent and stable you are, the stronger your application will be. For example, Norton Home Loans works from income against expenditure as its benchmark rather than income multiples.
- Your profession and earnings: Some lenders will base the criteria on what you do for a living and your salary. For example, some will lend to dentists, police officers, and engineers, while others, such as the Teachers Building Society, require a minimum salary of £200,000 for more than 5x multiple incomes.
- Deposit amount: If you’re a first-time buyer, you will likely have to put down a substantial deposit to secure a larger income multiple debt. While most lenders will decide this at their own discretion, it’s most likely that 5x salary mortgages will demand at least a 15% deposit, such as TSB, for example.
- Credit history: Like the deposit amount, this element has no hard and fast rules. However, it will be looked at. A poor credit rating is not necessarily a deal-breaker, but if it’s not favourable, you could face obstacles and a limited choice of lenders.
Get matched to the right mortgage broker
The highly trained and fully vetted brokers we work with understand the specifics of high-income multiple borrowing, such as 5.5 times annual salary, and where the best deals are in the market.
They are also able to provide the financial acumen that is so vital in high borrowing stakes. They are proficient at helping you get your paperwork together and unravel your finances to implement a fantastic application. They also offer advice and support around whether stretching the confines of traditional borrowing is right for you, now and in the future.
Find out more about how we can match you to the right broker today by calling 0330 818 7026 or making an enquiry online for a no-obligation initial consultation.
Rhianna has been fantastic
We had a very special need. 3 way mortgage with all 3 salaries counting towards the affordability. We contacted several mortgage advisors but OMA were the only ones who came through for us.
Michael
Good speedy service got us 5.5 lender…
Good speedy service got us 5.5 times our income with a lender which is what we wanted, thanks Joanne!
Mr T Golubevas
They pulled out all the stops
Great staff and good communication. Helped us understand the process and gone over and above to help in a difficult situation. Other companies couldn't even be bothered but Thank you so much!
Anneke Woolley
Pete Mugleston
CeMAP Mortgage Advisor, MD
Pete, a CeMAP-qualified mortgage advisor and an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete successfully went the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained and his love of helping people reach their goals led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.
Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for Online Mortgage Advisor of course!