In most cases, you’ll need a salary of around £80,000–£100,000 to get a £400k mortgage in the UK, depending on your deposit, income type, and lender affordability rules. Below, we break down realistic salary scenarios, deposit examples and lender calculations so you can see what’s achievable, and how to increase your borrowing power.
At Oportfolio Mortgages, we assess affordability across high-street and specialist lenders, so the examples below reflect real-world lender criteria, not just online calculators.
The examples below reflect typical UK lender criteria in 2026, but individual borrowing limits vary depending on affordability and lender policy.
What this guide will show you
- Typical salary needed for a £400k mortgage
- How lender income multiples work
- How deposit size affects affordability
- Real London buyer examples
- Ways to improve your borrowing power
£400k Mortgage Salary Calculator (Typical UK Lender Multiples)
| Income multiple (rule-of-thumb) | Approx salary needed (single or joint household income) | ||||
|---|---|---|---|---|---|
| 4.0x | £100,000 | ||||
| 4.5x | £88,900 | ||||
| 5.0x | £80,000 | ||||
| 5.5x | £72,700 | ||||
| 6.0x | £66,670 |
Quick answer:
Most borrowers need between £80,000–£100,000 household income for a £400k mortgage, although some lenders may go higher depending on deposit size and affordability.
Not sure if £400k is realistic for you?
Mortgage affordability isn’t just about salary, lenders also look at your deposit, credit profile and monthly commitments.
We can usually tell you in 5 minutes whether £400k borrowing is realistic based on real lender criteria.
Why the multiple is only a guide
Higher income multiples (5–6x income) are available in some cases, but they are criteria-driven and not available with every lender.
What “£400k mortgage” actually means
Examples:
- Property £450,000 with £50,000 deposit → £400,000 mortgage
- Property £500,000 with £100,000 deposit → £400,000 mortgage
Deposit size can significantly affect affordability.
How lenders assess affordability
Lenders look at:
- Income type (basic, bonus, self-employed)
- Existing credit commitments
- Dependants and childcare
- Lifestyle spending
- Interest rate stress testing
Common misconception
Many online mortgage calculators only use income multiples.
In reality, lenders use full affordability models, which is why two applicants earning the same salary can receive very different borrowing limits.
Monthly repayments on a £400k mortgage
Repayments depend on rate and term, but many borrowers pay roughly:
- £1,600–£2,100 per month
Your exact repayment depends on:
- Interest rate
- Deposit size
- Mortgage term
- Repayment vs interest-only
London buyer examples
Example A: Joint applicants
- Income: £90,000 combined
- Mortgage: £400,000
- Outcome: Often achievable with moderate outgoings
Example B: Single applicant
- Income: £95,000
- Mortgage: £400,000
- Outcome: Possible but depends heavily on affordability checks
Ways to reduce salary needed
- Increase deposit
- Reduce debts
- Extend mortgage term
- Use specialist lenders
- Structure income correctly
Common mistake borrowers make
Many buyers assume their bank will offer the same borrowing as other lenders. In reality, affordability models vary hugely, and choosing the wrong lender first can reduce your borrowing options.
Next step
If you want to know whether £400k is realistic for you, book a quick affordability review with Oportfolio Mortgages.
Book a quick affordability review and we’ll show you exactly what’s realistic, before you apply or start viewing properties.
Looking at a different mortgage amount?
- £300k salary mortgage guide
- £500k salary mortgage guide
- £600k salary mortgage guide
- £700k salary mortgage guide
- £800k salary mortgage guide
- £900k salary mortgage guide
- £1 million salary mortgage guide
- £2 million salary mortgage guide
FAQ
1. What salary do I need for a £400k mortgage in the UK?
Most lenders offer between 4x and 4.5x your income, meaning you’ll typically need around £88,500–£100,000 salary for a £400,000 mortgage. Some specialist lenders may go higher depending on your circumstances.
2. Can I get a £400k mortgage on a £80k salary?
It’s possible but less common. You may need a larger deposit, joint income, low existing debts, or access to lenders offering higher income multiples.
3. How much deposit do I need for a £400k mortgage?
Typical deposits range from 5% (£20,000) to 20% (£80,000+). A bigger deposit can improve affordability and access to better rates.
4. Can two people combine salaries for a £400k mortgage?
Yes. Joint applications combine incomes, which often makes a £400k mortgage more achievable and may improve lender options.
5. Do lenders look at affordability or just salary?
Lenders assess affordability, not just income. They consider monthly commitments, childcare, credit history, lifestyle spending, and interest rate stress testing.
6. How much are monthly repayments on a £400k mortgage?
Repayments vary depending on rate and term, but many borrowers pay roughly £1,600–£2,100 per month. Your exact figure depends on interest rates and mortgage type.
7. Can I get a £400k mortgage as a self-employed applicant?
Yes. Most lenders require 1–2 years of accounts or tax returns, and affordability is based on your average declared income.
8. Is getting a £400k mortgage harder in London?
Property prices are higher in London, so affordability can be tighter, but many lenders offer solutions designed for London buyers, professionals, and higher earners.
9. What can improve my chances of getting a £400k mortgage?
Improving your credit score, reducing debts, increasing your deposit, and speaking to a whole-of-market mortgage broker can significantly improve approval chances.
10. Should I speak to a mortgage broker before applying?
Yes, a broker can assess affordability across multiple lenders and often find solutions unavailable directly through banks, helping you secure the right deal faster.
Not sure where you sit? We can usually tell you in 5 minutes whether £300k is realistic based on your income and deposit, book a quick affordability call.
