How much can I borrow on £60,000?
Earning £60,000? Most lenders will offer around £270,000, which costs £1,501 a month at 4.5% over 25 years.
- Borrow at 4.5x income
- £270,000
- Monthly payment (4.5%, 25y)
- £1,501
- Share of take-home pay
- 40%
- Home price with 10% deposit
- £300,000
- HMRC 2026/27 rates
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On a £60,000 salary you can typically borrow £240,000 to £270,000. A £270,000 mortgage at 4.5% over 25 years costs £1,501 a month, 40% of your take-home pay.
What £60,000 could borrow at each income multiple
The home it could buy
| Deposit | Home price | Deposit needed | Stamp duty (first-time buyer) |
|---|---|---|---|
| 5% | £284,000 | £14,000 | £0 |
| 10% | £300,000 | £30,000 | £0 |
| 15% | £318,000 | £48,000 | £900 |
| 25% | £360,000 | £90,000 | £3,000 |
Buying with someone else
| Household income | Borrow at 4.5x | A month at 4.5% |
|---|---|---|
| £60,000 | £270,000 | £1,501 |
| £80,000 | £360,000 | £2,001 |
| £120,000 | £540,000 | £3,002 |
Joint applications add both incomes together. Lenders then take off regular commitments like car finance, credit cards and childcare, so large debts cut what you can borrow.
Keep going
- Monthly payments on a £270,000 mortgage at every rate.
- Your take-home on £60,000 after tax.
- The full picture in how much can I borrow for a mortgage?
Questions people ask
How much can I borrow on £60,000?
Usually £240,000 to £270,000, at 4 to 4.5 times your income. Some lenders offer up to 5.5 times (£330,000) to higher earners or certain professions, and every lender checks your outgoings and credit history first.
What house can I buy on £60,000?
With a 10% deposit and a £270,000 mortgage, about £300,000. With a 15% deposit, about £317,647.
Is a £270,000 mortgage affordable on £60,000?
At 4.5% the payment is £1,501 a month, 40% of your £3,780 monthly take-home pay. Lenders also stress test at higher rates to check you could still pay if rates rise.