How much can you borrow — and what will it cost?
UK mortgage lenders typically allow you to borrow 4 to 4.5 times your annual income, sometimes up to 5.5× for higher earners or specific first-time-buyer products. Affordability also depends on your other commitments and a stress-test rate a few points above the headline.
Typical UK mortgage rates (May 2026)
| Product | Typical rate |
|---|---|
| 2-year fixed, 60% LTV | ~4.4–4.6% |
| 5-year fixed, 60% LTV | ~4.2–4.5% |
| 2-year fixed, 80% LTV | ~4.6–5.0% |
| Standard Variable Rate | ~7.0–8.0% |
| Bank of England base rate | 3.75% |
Monthly payment at a glance (25-year term)
Quick reference — monthly repayment at various loan sizes and rates:
| Loan | 3.5% | 4.0% | 4.5% | 5.0% | 5.5% | 6.0% |
|---|---|---|---|---|---|---|
| £100,000 | £501 | £528 | £556 | £585 | £614 | £644 |
| £150,000 | £751 | £792 | £834 | £877 | £921 | £966 |
| £200,000 | £1,001 | £1,056 | £1,112 | £1,169 | £1,228 | £1,289 |
| £250,000 | £1,252 | £1,320 | £1,390 | £1,461 | £1,535 | £1,611 |
| £300,000 | £1,502 | £1,584 | £1,667 | £1,754 | £1,842 | £1,933 |
| £400,000 | £2,002 | £2,111 | £2,223 | £2,338 | £2,456 | £2,577 |
| £500,000 | £2,503 | £2,639 | £2,779 | £2,923 | £3,070 | £3,222 |
Mortgage calculators by loan amount
For a detailed breakdown at a specific loan size — including a worked example and payment table for that amount — pick your target below:
Costs the calculator does not include
The monthly repayment above covers principal and interest only. Your real cost of buying and owning a UK home also includes:
- Stamp Duty Land Tax — depends on the property price and whether you're a first-time buyer.
- Buildings insurance — required by virtually all lenders.
- Arrangement fees — often £999–£1,999, sometimes added to the loan.
- Conveyancing and survey — typically £1,500–£2,500 combined.
- Deposit — 5% to 40% of the property price.
Worked example — £250,000 over 25 years at 4.62%
Borrowing £250,000 at a typical 4.62% 2-year fix rate on a 25-year term:
Monthly payment: £1,407 · Total interest over 25 years: ~£172,000
Extending the term to 30 years lowers the monthly to about £1,288 but pushes total interest above £214,000. A shorter term costs more month-to-month but far less over the life of the loan.
Frequently asked questions
How much can I borrow for a UK mortgage?
What deposit do I need in the UK?
Should I choose a 2-year or 5-year fix?
Is a 25-year mortgage still the default in the UK?
Can I make overpayments?
Estimates are for general information only, not financial advice. Confirm exact figures with your lender or an authorised broker.