Mortgage affordability2 min read · Updated 19 October 2026
How much can I borrow on a £40,000 salary? UK mortgage guide
Lenders commonly offer 4 to 4.5 times income. On £40,000 that is £160,000 to £180,000, and what it costs a month.
The rule of thumb
Most lenders cap lending around 4 to 4.5 times annual income. Some go higher for strong applications. On £40,000 that is £160,000 to £180,000. Your deposit adds to what you can spend on a home.
What it costs a month
| Loan | Monthly at 4% / 5% / 6% (25 years) |
| £160,000 | £845 / £935 / £1,031 |
| £180,000 | £950 / £1,052 / £1,160 |
What lenders check
Other loans and cards, regular spending, dependants and a stress test at a higher rate. Clear small debts and avoid new credit before you apply.
Common questions
How much mortgage can I get on £40,000?
Commonly £160,000 to £180,000, which is 4 to 4.5 times income. A lender confirms the real figure.
Does a deposit change it?
The deposit adds to the loan to give your buying budget. It does not usually change the income multiple.
Can two incomes be combined?
Yes. Lenders usually add joint incomes.