How much will a bank actually lend you?
There's a rough rule everyone quotes, and then there's what actually lands in your account. The gap between them is where a lot of first-time buyers get caught out.
Reviewed 8 June 2026 · Information, not advice.
The rule of thumb, and its limits
As a starting point, most lenders will offer around 4.5 times your income. On a £35,000 salary that's roughly £157,000. Buying with someone? They usually add both incomes together, so two people on £35,000 might borrow around £315,000.
It's a useful first number, but it's only a starting point. A lender doesn't just multiply your salary and stop there.
What they really check
On top of income, lenders look at what you actually spend: existing debts, car finance, childcare, even regular subscriptions. Then they stress-test you, asking whether you could still pay if rates rose. So two people on identical salaries can be offered very different amounts.
This is also why the figure you get from a five-second calculator and the figure a broker comes back with don't always match. The calculator sees your income. The lender sees your life.
When 5 to 5.5 times income is real
You'll see schemes advertising 5 or even 5.5 times income. They're real, but they're specialist, usually aimed squarely at first-time buyers, and they come with conditions: often a minimum income, a higher deposit or a longer fixed rate.
Treat the higher multiples as a best case you might qualify for, not the number to go house-hunting with. A broker can tell you in one conversation whether any of them actually fit you.
Run your own numbers
Common questions
- Is it 4.5 times my salary or our joint salary?
- If you're buying together, lenders usually base it on your combined income. So two people earning £30,000 each are assessed on £60,000, not £30,000.
- Why is a broker's figure lower than the calculator's?
- A calculator only knows your income. A lender also weighs your debts, spending and a stress-tested higher rate, which can pull the real offer below a simple income multiple.
- Can I borrow 5 times my income as a first-time buyer?
- Sometimes. A few first-time buyer schemes go to 5 or 5.5 times, but they have conditions like a minimum income or a longer fixed rate. It's a maybe, not a given.