How much can I borrow on £88,000?
Earning £88,000? Most lenders will offer around £396,000, which costs £2,201 a month at 4.5% over 25 years.
- Borrow at 4.5x income
- £396,000
- Monthly payment (4.5%, 25y)
- £2,201
- Share of take-home pay
- 43%
- Home price with 10% deposit
- £440,000
- HMRC 2026/27 rates
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On a £88,000 salary you can typically borrow £352,000 to £396,000. A £396,000 mortgage at 4.5% over 25 years costs £2,201 a month, 43% of your take-home pay.
What £88,000 could borrow at each income multiple
The home it could buy
| Deposit | Home price | Deposit needed | Stamp duty (first-time buyer) |
|---|---|---|---|
| 5% | £417,000 | £21,000 | £5,850 |
| 10% | £440,000 | £44,000 | £7,000 |
| 15% | £466,000 | £70,000 | £8,300 |
| 25% | £528,000 | £132,000 | £16,400 |
Buying with someone else
| Household income | Borrow at 4.5x | A month at 4.5% |
|---|---|---|
| £88,000 | £396,000 | £2,201 |
| £108,000 | £486,000 | £2,701 |
| £176,000 | £792,000 | £4,402 |
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 £400,000 mortgage at every rate.
- Your take-home on £88,000 after tax.
- The full picture in how much can I borrow for a mortgage?
Questions people ask
How much can I borrow on £88,000?
Usually £352,000 to £396,000, at 4 to 4.5 times your income. Some lenders offer up to 5.5 times (£484,000) to higher earners or certain professions, and every lender checks your outgoings and credit history first.
What house can I buy on £88,000?
With a 10% deposit and a £396,000 mortgage, about £440,000. With a 15% deposit, about £465,882.
Is a £396,000 mortgage affordable on £88,000?
At 4.5% the payment is £2,201 a month, 43% of your £5,133 monthly take-home pay. Lenders also stress test at higher rates to check you could still pay if rates rise.