The calculation
Income × multiple = starting mortgage
At 4.5× income, a £55,000 household income gives a starting mortgage of £247,500.
£55,000 × 4.5£247,500
Ongoing commitments
Money already committed reduces room
In this calculator, £300 a month of continuing payments reduces the illustration by £16,200.
No commitments£247,500£300 a month£231,300
Why offers differ
Lenders assess the full picture
- IncomeAccepted salary, bonuses and other income can vary.
- OutgoingsDebts, dependants and regular spending affect affordability.
- RiskCredit history, mortgage term and lender policy also matter.