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£250,000 Mortgages: Repayments and Income Requirements

Find out how much you need to earn to get a £250,000 mortgage

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By Pete Mugleston  | Mortgage Advisor Pete has been a mortgage advisor for over 10 years, and is regularly cited in both trade and national press.

Updated: 12th September 2019 *

We receive lots of enquiries from customers wanting to know what the minimum salary they need to be on to be eligible for a mortgage of a certain size, and what they can expect in terms of monthly payments. Perhaps you’re wondering “How much do I need to earn to get a 250k mortgage and what are the repayments likely to be?”

Every provider has different lending criteria, so there is no standalone answer to these questions. What’s more, every lender will assess your other circumstances as well as income before deeming what an acceptable salary is needed for a 250k mortgage and what the costs will be.

The good news is that our advisors are experts in this area and can offer the right advice. This article will give you a rough idea as to the minimum income required for a home loan of this size and how much you can expect to pay back each month.

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How does income affect your mortgage application?

Income is one of the main considerations for mortgage providers because it's a good indication as to whether your salary will be allow you to keep up with your repayments for a £250k mortgage.

Lenders calculate affordability by looking at your monthly income against your outgoings to find your debt-to-income ratio. The lower the ratio the better, because it means you have more disposable income available to pay off a mortgage.

Why do income requirements vary by lender?

The fact of the matter is, some lenders are more generous than others. While many providers impose a cap on a mortgage at 3 - 4x your salary, there are some lenders that will stretch to 5x your income, and a handful will go to 6x.

If you’re looking to use a secured loan as collateral for a mortgage, a few  lenders may even stretch to 10x your income or more.

How much do I need to earn to get a mortgage of £250,000?

So, how do you roughly calculate how much income is needed get a £250k mortgage, taking into consideration the standard lender caps?

Supposing you (and your partner, if applicable) earn an annual salary of £85,000; just over 3x your combined earnings equals £255,000, which should theoretically open you up to a wide choice of mortgage lenders because your income falls within the bracket the majority of lenders will consider.

If on the other hand, you earn £45,000 per year, you would need to find a provider that is willing to loan you nearly 6x your income, which is more difficult to come by.

This table will give you an idea as to how much you may be eligible to borrow based on typical 3x - 6x income lender caps:

Income 3x income 4x income 5x income 6x income
£45,000 £135,000 £180,000 £225,000 £270,000
£50,000 £150,000 £200,000 £250,000 £300,000
£55,000 £165,000 £220,000 £275,000 £330,000
£60,000 £180,000 £240,000 £300,000 £360,000
£65,000 £195,000 £260,000 £325,000 £390,000
£70,000 £210,000 £280,000 £350,000 £420,000
£75,000 £225,000 £300,000 £375,000 £450,000
£80,000 £240,000 £320,000 £400,000 £480,000
£85,000 £255,000 £340,000 £425,000 £510,000

The above table is for demonstrative purposes only and we recommend you contact your lender or broker for the most up-to-date information.

How much are the repayments on a £250K mortgage?

It is important to consider the different interest rates and term lengths of a £250,000 mortgage, as these could affect the monthly cost of mortgage repayments on £250,000 quite dramatically. Knowing how much the monthly payments on a £250,000 mortgage will be, could affect your decision as to which mortgage you decide to go for.

That's why we have come up with some tables that show repayments on 250k mortgage amounts, with the monthly costs for different rates and terms. Just click on the tabs below to see these different £250,000 mortgage repayments. Values for £255,000, £260,000, £265,000 etc. are also displayed.

1% 15yr 20yr 25yr 30yr
250000 £1,496.24 £1,149.74 £942.18 £804.10
255000 £1,526.16 £1,172.73 £961.02 £820.18
260000 £1,556.09 £1,195.73 £979.87 £836.26
265000 £1,586.01 £1,218.72 £998.71 £852.34
270000 £1,615.94 £1,241.71 £1,017.56 £868.43
275000 £1,645.86 £1,264.71 £1,036.40 £884.51
280000 £1,675.78 £1,287.70 £1,055.24 £900.59
285000 £1,705.71 £1,310.70 £1,074.09 £916.67
290000 £1,735.63 £1,333.69 £1,092.93 £932.75
295000 £1,765.56 £1,356.69 £1,111.77 £948.84

2% 15yr 20yr 25yr 30yr
250000 £1,608.77 £1,264.71 £1,059.64 £924.05
255000 £1,640.95 £1,290.00 £1,080.83 £942.53
260000 £1,673.12 £1,315.30 £1,102.02 £961.01
265000 £1,705.30 £1,340.59 £1,123.21 £979.49
270000 £1,737.47 £1,365.89 £1,144.41 £997.97
275000 £1,769.65 £1,391.18 £1,165.60 £1,016.45
280000 £1,801.82 £1,416.47 £1,186.79 £1,034.93
285000 £1,834.00 £1,441.77 £1,207.98 £1,053.42
290000 £1,866.18 £1,467.06 £1,229.18 £1,071.90
295000 £1,898.35 £1,492.36 £1,250.37 £1,090.38

3% 15yr 20yr 25yr 30yr
250000 £1,726.45 £1,386.49 £1,185.53 £1,054.01
255000 £1,760.98 £1,414.22 £1,209.24 £1,075.09
260000 £1,795.51 £1,441.95 £1,232.95 £1,096.17
265000 £1,830.04 £1,469.68 £1,256.66 £1,117.25
270000 £1,864.57 £1,497.41 £1,280.37 £1,138.33
275000 £1,899.10 £1,525.14 £1,304.08 £1,159.41
280000 £1,933.63 £1,552.87 £1,327.79 £1,180.49
285000 £1,968.16 £1,580.60 £1,351.50 £1,201.57
290000 £2,002.69 £1,608.33 £1,375.21 £1,222.65
295000 £2,037.22 £1,636.06 £1,398.92 £1,243.73

4% 15yr 20yr 25yr 30yr
250000 £1,849.22 £1,514.95 £1,319.59 £1,193.54
255000 £1,886.20 £1,545.25 £1,345.98 £1,217.41
260000 £1,923.19 £1,575.55 £1,372.38 £1,241.28
265000 £1,960.17 £1,605.85 £1,398.77 £1,265.15
270000 £1,997.16 £1,636.15 £1,425.16 £1,289.02
275000 £2,034.14 £1,666.45 £1,451.55 £1,312.89
280000 £2,071.13 £1,696.74 £1,477.94 £1,336.76
285000 £2,108.11 £1,727.04 £1,504.33 £1,360.63
290000 £2,145.09 £1,757.34 £1,530.73 £1,384.50
295000 £2,182.08 £1,787.64 £1,557.12 £1,408.38

5% 15yr 20yr 25yr 30yr
250000 £1,976.98 £1,649.89 £1,461.48 £1,342.05
255000 £2,016.52 £1,682.89 £1,490.70 £1,368.90
260000 £2,056.06 £1,715.88 £1,519.93 £1,395.74
265000 £2,095.60 £1,748.88 £1,549.16 £1,422.58
270000 £2,135.14 £1,781.88 £1,578.39 £1,449.42
275000 £2,174.68 £1,814.88 £1,607.62 £1,476.26
280000 £2,214.22 £1,847.88 £1,636.85 £1,503.10
285000 £2,253.76 £1,880.87 £1,666.08 £1,529.94
290000 £2,293.30 £1,913.87 £1,695.31 £1,556.78
295000 £2,332.84 £1,946.87 £1,724.54 £1,583.62

If you are looking for a homes and require any advice on  a £250,000 mortgage then make an enquiry for free, expert advice with no obligation.

You can also use the rates table below to compare mortgage repayment rates and figures across the UK market at a 250,000 mortgage amount.

Other factors besides income impact the likelihood of being approved for a £250k mortgage?

Property Loan to Value (LTV)

A lower LTV (larger deposit) can be very beneficial as it may give you a wider variety of lender options and access to more competitive rates.

Most residential mortgage providers offer up to 85% loan to value (LTV), some are happy at 90%, and a handful will accept 95%. This means that a few lenders may be happy to loan you the money for a £250,000 mortgage with as little as £12,500 (5%) deposit saved - provided you pass the other eligibility criteria.

Generally though, you will be offered better rates the more deposit you have as it gives lenders added reassurance of your commitment.


What you do for a living can have a big impact on mortgage applications as some jobs or contract types are deemed riskier than others.

For example, if you're self-employed or are on a temporary contract at work, lenders may treat you with more caution than someone who has been in a stable, full-time role for a number of years.

However, there are many other variables at play, so don't lose faith if you have an unconventional job. See here for more information.

Adverse credit issues

As discussed, every mortgage provider has different requirements and eligibility criteria - the same applies when it comes to bad credit.

On one hand, some lenders will not accept anyone who has experienced any forms of adverse at all; some are happy to accept even the most serious of issues, such as repossessions and bankruptcies. Generally though, it depends on the recently and / or severity of the issue.

Visit our bad credit mortgage section for more information on this. Or, make an enquiry and we’ll refer you to one of the specialist bad credit advisors we work with.


Older borrowers can find it more difficult to get a mortgage as they are seen as higher risk. As such, some lenders have a cap on the maximum age they lend to, whereas others have a maximum term limit. Some providers will not consider you if you’ve entered retirement.

Speaking to a whole of market broker will open you up to a wider variety of lenders who are happy to consider you no matter your age. Visit our later life lending section here.

Buy to Let (BTL) properties

Is your £250k mortgage application for a BTL investment? If so, the rules are quite different than for a standard residential mortgage.

Usually, lenders will require a larger deposit (usually at least 25%), and affordability is calculated not by income alone, but rather your estimated earnings from letting out the property.

Click here to visit our buy to let section.

Second homes

Different rules also apply if you’re looking for a mortgage on a second home. This is because if you fall into financial difficulty for whatever reason, it's more than likely you'll prioritise repayments for your main place of residence over a second home.

As such, lenders will usually require a far larger deposit on a second home and you may be subject to and more extensive affordability checks than with a standard mortgage.

Unique property types

Many mortgage providers are cautious about lending for properties that are “non-standard”, listed, or unique in other ways, because of the higher risk and “less-sellable” they are.

Nevertheless, some lenders are happy to consider a wider range of property types. Read more at our non-standard property section here.

Why you should speak to an expert affordability broker

We’ve helped over 98,000 people find the right mortgage for their circumstances, even those with bad credit, in fact they consistently rate us 5 stars on Feefo, mainly due to our level of service and because we offer access to expert brokers who are:

  • Whole of market
  • Have an established working relationship with all lenders
  • OMA Accredited advisors
  • Have completed a 12 module LIBF approved training course

Speak to a mortgage affordability expert today

If you like anything in this article or you’d like to know more, call Online Mortgage Advisor today on 0808 189 2301 or make an enquiry.

Then sit back and let us do all the hard work in finding the broker with the right expertise for your circumstances. We don’t charge a fee, and there’s no obligation or marks on your credit rating.

Updated: 12th September 2019
OnlineMortgageAdvisor 2019 ©

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The info on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs. Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.