This guide shows example monthly repayments and salary ranges for mortgages between £250k and £600k in the UK. Each example is based on a 15% deposit, 35-year term, 5-year fixed rate at 4.54%, and no existing debt. It’s designed to help you understand how lenders assess affordability, not to give personalised advice.
Oct 6, 2025
Working out how much you can afford is one of the first steps when buying your first home. Lenders look at your income, deposit, and financial situation to decide how much they’re willing to lend.
For these examples, we’ve assumed:
These scenarios are for illustration only. They’re based on standard affordability calculations, assuming a lender is prepared to offer 4× your annual salary. Actual figures will vary by lender and personal circumstances.
For a £250,000 property, after a 15% deposit, you’d borrow £212,500.
On a 35-year term at 4.54% fixed for 5 years, monthly repayments are approximately £1,010.94.
If all lender requirements are met and they offer 4× your income, you’d typically need a minimum salary of around £53,125.
“These examples show what lenders typically look at when deciding how much you can borrow, but they’re not a substitute for tailored advice.” - Will Sharman
For a £300,000 property, you’d borrow £255,000 after the deposit.
Monthly repayments would be approximately £1,213.13.
You’d typically need an annual salary of around £63,750 to borrow this amount, assuming 4× income.
With a 15% deposit, the borrowing amount would be £340,000.
Repayments on this scenario would be roughly £1,617.51 per month.
You’d typically need an annual salary of around £85,000 if the lender offers 4× income.
A £500,000 property means borrowing £425,000 after deposit.
Expected monthly repayments are approximately £2,021.88.
You’d typically need a minimum salary of around £106,250 based on 4× income.
For this scenario, you’d borrow £467,500.
Monthly repayments would be around £2,224.07.
You’d typically need an annual salary of around £116,875.
Borrowing amount after deposit would be £510,000.
Repayments would be roughly £2,426.26 per month.
A minimum salary of around £127,500 would typically be required at a 4× multiple.
“In this scenario, we’ve assumed a first-time buyer with no debts, a 15% deposit, a 35-year term, and a 5-year fixed rate of 4.54% to keep the comparisons clear.” - Will Sharman
At Mortgage Brokers Near Me (MBNM), we help buyers understand exactly what they can afford before they start house-hunting. Our team works with a wide panel of lenders and can guide you through affordability checks, mortgage options, and the application process from start to finish.
Whether you’re buying your first home or looking at higher mortgage amounts, we’ll help you build a clear plan and make informed decisions. Speak to our team today to get started.
A clear, real-world breakdown of how much you need to earn to buy a £250,000 home in the UK. This guide explains how lenders calculate affordability, how deposit size affects borrowing, what monthly repayments typically look like, and why location plays a huge role in what £250,000 can buy. Written to help first-time buyers sense-check the numbers before making an offer.
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Using a mortgage broker usually makes sense if your situation isn’t completely straightforward, for example if you’re self-employed, have credit history, are buying for the first time, or simply don’t want to risk choosing the wrong lender. A broker can match you to lenders that fit your case and handle the application process. Going direct to a bank can work if your income, deposit and credit profile are simple and you’re confident comparing products yourself. If you’re unsure, speak to a broker first. At MBNM, the first chat is free and we can help you secure a Mortgage in Principle so you know exactly where you stand before moving forward.
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Read ArticleIf you’re buying, moving, or remortgaging, speak with a MBNM adviser and get clear guidance on what’s realistically available to you, before you commit to anything.
Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Mortgage Brokers Near Me LTD is an Appointed Representative of The Right Mortgage LTD which is authorised and regulated by the Financial Conduct Authority.
The guidance and/or information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. The Financial Conduct Authority does not regulate Will Writing and some forms of Trusts and Buy to Lets. A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.
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