How much can I borrow on a £45,000 salary?
A home up to about
£225,000
On £45,000 a year, you could afford a home up to about £225,000 with a 10% deposit of £22,500. A first-time buyer pays no Stamp Duty at this price. The mortgage payment would be about £1,137 a month.
- Deposit
- £22,500
- Mortgage
- £202,500
- Payment a month
- £1,137
- Stamp Duty
- £0
How your deposit changes it
| Saved for a deposit | Home up to | Mortgage | Payment a month | Stamp Duty |
|---|---|---|---|---|
| £10,658 (5%) | £213,158 | £202,500 | £1,137 | £0 |
| £22,500 (10%) | £225,000 | £202,500 | £1,137 | £0 |
| £50,625 (20%) | £253,125 | £202,500 | £1,137 | £0 |
How it’s worked out
Most lenders lend up to 4.5 times your income: £202,500 on £45,000. Some go higher, and all of them also check your spending and debts.
Assumes one buyer borrowing 4.5 times their income, a 4.6% rate over 25 years and no other debts. The average rate on new mortgages was 4.60% in August 2026 (Bank of England).
- Most lenders lend up to 4.5 times your income (combined if you buy with someone), and some go higher. Lenders also check your spending and debts, so you may be offered less.
- You need a deposit of at least 5%. Your savings pay the Stamp Duty (or LBTT or LTT) first, and the rest goes towards the deposit. Legal fees and moving costs are extra.
Frequently asked questions
How much can I borrow on a £45,000 salary?
On £45,000 a year, you could afford a home up to about £225,000 with a 10% deposit of £22,500. A first-time buyer pays no Stamp Duty at this price. The mortgage payment would be about £1,137 a month.
How much deposit do I need on £45,000?
With £10,658 saved, you could buy a home up to about £213,158. With £22,500 saved, you could buy a home up to about £225,000. With £50,625 saved, you could buy a home up to about £253,125.