Getting a Mortgage for 5 or 5.5x Your Salary

Find out how you can borrow between 5 and 5.5x your salary for your next mortgage

Home Mortgage Affordability Getting A Mortgage For 5 Or 5.5x Your Salary

Author: Pete Mugleston

Mortgage Advisor, MD

Reviewer: Jon Nixon

Director of Distribution

Updated: November 24, 2023

How we reviewed this article:

Our experts continuously monitor changes in the financial space and work closely with qualified mortgage advisors for factual verification.

November 24, 2023

Can you get a mortgage based on 5 or 5.5 times your salary?

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, particularly 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.

What about joint applications?

Joint mortgages are common and they are calculated in the same way as a single one would be, the only difference being that both incomes would be taken into consideration. As you have more income, you may also have access to these higher income multiple deals as well.

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Understanding how much you can borrow

Here you’ll be able to 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
£105,000 £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.

Input full salaries for all applicants
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Your Results:

You could borrow up to 

Most lenders would consider letting you borrow

This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.

Some lenders would consider letting you borrow

This is based on 5 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.

A minority of lenders would consider letting you borrow

This is based on 6 times your household income, a salary multiple you will struggle to get without a broker. Six-times salary mortgages are usually only available under very specific circumstances.

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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 as this will boost your chances of getting approved at the best terms available.

Using our free broker-matching service you can speak straight away to the right broker by simply making an enquiry online. They’ll be able to help with:

Other factors that affect your mortgage application

As well as your income, there are a number of other elements that 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 criteria on what you do for a living and what your salary is. For example, some will lend to lawyers, doctors and engineers, while others, such as Teachers Building Society, require a minimum £200,000 salary for more than 5x multiple income.
  • Deposit amount: If you’re a first-time buyer, it’s likely you will 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 15% deposit, such as TSB, for example.
  • Credit history: Like the deposit amount, there are no hard and fast rules on this element, however, it is something that will be looked at. A poor credit rating is not necessarily a deal-breaker, but you could face obstacles and a limited choice of lenders if it’s not favourable.

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Which lenders are available?

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.

What are the typical rates you should expect?

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.

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 unravelling your finances in order to put forward a fantastic application, as well as 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 0808 189 2301 or make an enquiry online for a free, no obligation initial consultation.

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We know everyone's circumstances are different, that's why we work with expert brokers who specialise in finding the best deals.

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About the author

Pete, 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 found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with 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!

Read more about Pete

Pete Mugleston

Mortgage Advisor, MD

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