First-Time Buyer Affordability Calculator
Adjust any input to see how it changes your borrowing power, monthly payment, and how much you need in the bank on completion day. This is a simulator — figures illustrate the maths, not a lending decision.
How much can a first-time buyer borrow in the UK?
Most UK lenders offer mortgages between 4× and 4.5× household income, although some lenders may offer up to 5× income for higher earners or professionals in specific occupations. The exact amount depends on your credit history, existing commitments, deposit size, and the lender's individual criteria.
Deposit size and loan-to-value (LTV) also significantly affect the mortgage rate available. Borrowers with a 10% deposit (90% LTV) typically pay a meaningfully higher rate than those with a 20% deposit (80% LTV). Saving to reach the next LTV threshold — such as from 90% to 85% — can reduce both the monthly payment and the total interest paid.
Day-one costs beyond the deposit — stamp duty, legal fees, surveys, mortgage fees, and moving costs — typically add £3,000–£5,000 to the total cash required. Many first-time buyers underestimate this when planning their purchase.
The figures above are general guidance for illustration only and do not constitute financial advice. Mortgage eligibility depends on individual lender criteria and personal circumstances.