What Salary Do You Need for a £150k Mortgage? (2026)
The short answer: roughly £27,000 to £37,500 on your own, depending on the lender’s income multiple — or about £16,700 each for a couple. Here’s the full breakdown, why the range is so wide, the monthly repayment reality, and the deposit you’ll also need.
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Quick answer
To borrow £150,000 on your own, you’ll typically need a salary of around £33,333 based on the standard 4.5× income multiple most lenders use — but the real range is roughly £27,273 to £37,500, because lenders lend anywhere from 4.0× to 5.5× your income. At the generous end (5.5×, available from some lenders once you clear their thresholds) you’d need about £27,273; at the cautious end (4.0×) about £37,500. Buying with someone else roughly halves the individual requirement — two equal earners need about £16,700 each at 4.5×. That’s the headline, but three things matter alongside it: the income multiple is a ceiling, so lenders also stress-test the monthly payment (about £834–£921/month on £150k over 25 years at current rates) against your outgoings, meaning debts, credit commitments and childcare reduce what you’re offered; you’ll need a deposit on top (a £150,000 loan at 90% LTV means a ~£166,667 property and a ~£16,667 deposit); and the lender you choose genuinely changes the answer — the £10,000 gap between the strictest and most generous lender’s salary requirement is exactly why comparing the market beats walking into your own bank. This page runs every figure, and also answers the flip-side question (“how much can I borrow on a £150k salary?”) lower down. As of August 2026.
Your home may be repossessed if you do not keep up repayments on your mortgage.
In this guide
The salary you need for a £150k mortgage — full table
Lenders start from a multiple of your gross annual income. Here’s the salary a £150,000 mortgage requires at each common multiple, sole and joint:
| Income multiple | Sole applicant needs | Joint (two equal earners) — each needs |
|---|---|---|
| 4.0× (cautious) | £37,500 | £18,750 |
| 4.5× (standard) | £33,333 | £16,667 |
| 5.0× (generous) | £30,000 | £15,000 |
| 5.5× (maximum, some lenders) | £27,273 | £13,636 |
So the honest answer to “what salary do I need for a £150k mortgage?” is somewhere between £27,000 and £37,500 solo, with £33,333 the safest single figure to plan around. For couples, joint applications combine both incomes, so the bar per person drops sharply — one reason buying together makes mid-sized mortgages far more reachable.
Why the range is £27k–£37.5k
That £10,000 spread isn’t lender indecision — it reflects real differences in criteria. Most lenders cap at 4.5× income as standard, but a number stretch to 5.0× or 5.5× for applicants who clear certain conditions: typically a minimum income (often the £30,000 threshold unlocks enhanced multiples), a professional occupation, or a strong overall profile. A few specialist and professional products reach beyond 5.5×. The practical consequence: a person earning £30,000 can’t get £150k from a strict 4.5× lender (that caps them at £135,000) but can from a 5.0× lender (£150,000 exactly). Same borrower, same salary — a “no” at one lender and a “yes” at another, decided entirely by criteria. That’s the core case for whole-of-market comparison: for a £150k mortgage, the right lender can be the difference between qualifying and not, and it’s invisible if you only ask your own bank. Our affordability guide covers how these multiples are set, and the salary-specific pages for £30k and £35k show exactly where £150k sits for those incomes.
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The monthly repayment reality
Qualifying on the multiple is only half of it — you also have to afford the monthly payment, which is what lenders stress-test. On a £150,000 repayment mortgage:
| Rate | 25-year term | 30-year term |
|---|---|---|
| 4.5% | £834/month | £760/month |
| 5.0% | £877/month | £805/month |
| 5.5% | £921/month | £852/month |
On a £33,333 salary, an £877 monthly payment is about 32% of gross income before tax — within the comfort zone most lenders look for, but tighter once tax and living costs are counted, which is why lenders test it rather than trust the multiple alone. A longer term lowers the monthly payment (helping affordability) but costs more interest overall; our repayment tables break down the trade-off across loan sizes.
The deposit you’ll also need
The £150,000 is the loan, not the property price — so your deposit sits on top, and its size sets the property you can buy:
| If £150k is… | Property price | Deposit needed |
|---|---|---|
| 90% LTV | £166,667 | £16,667 |
| 85% LTV | £176,471 | £26,471 |
| 75% LTV | £200,000 | £50,000 |
A bigger deposit doesn’t just buy a pricier home — it drops you into a cheaper LTV rate band, lowering the monthly payment and easing the affordability test. If saving the deposit is the hurdle rather than the salary, the first-time buyer schemes and Lifetime ISA are worth a look.
What reduces what you’re offered
The salary table is the starting point; these pull the real figure down (or up):
- Existing debts and credit commitments — car finance, loans and credit cards are deducted from affordability. Car finance alone can cut borrowing by tens of thousands.
- Childcare and dependants — factored into outgoings; high childcare costs reduce borrowing significantly.
- Student loan repayments — a monthly deduction that trims the figure.
- Bonus, commission and overtime — can increase it, but only with a lender that counts your variable income — some ignore it entirely.
- Credit history — a clean file helps; adverse credit narrows lenders and can raise the salary or deposit needed.
Flip side: how much can you borrow on a £150k salary?
Some people arrive here asking the opposite — not the salary for a £150k mortgage, but the mortgage for a £150k salary. If that’s you: a £150,000 income typically borrows £675,000 at 4.5×, up to £825,000 at 5.5×. At that level you’re often into higher-value and high-net-worth lending, where income multiples can stretch further and criteria differ — bonus structures, complex income and larger loans all come into play. If that’s your question, the borrowing figure is the number you want, and a broker who handles larger loans is the right first call.
The bottom line
For a £150,000 mortgage on one income, plan for a salary around £33,333 (the standard 4.5×), knowing the real range runs from about £27,273 at a generous 5.5× lender to £37,500 at a cautious 4.0× one — a £10,000 spread that’s entirely about which lender you use. Buying jointly roughly halves the per-person requirement. Then remember the multiple is only the entry ticket: you’ll need to afford roughly £834–£921 a month, clear the affordability stress-test after your debts and outgoings, and put down a deposit on top. Because the lender choice moves the salary bar so much, comparing the whole market rather than asking one bank is the difference between “not quite enough” and “approved.”
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Salary for a £150k mortgage: FAQs
What salary do I need for a £150,000 mortgage?
Typically around £33,333 on your own, based on the standard 4.5× income multiple most lenders use. The real range is about £27,273 to £37,500, because lenders lend between 4.0× and 5.5× your income — at 5.5× you’d need roughly £27,273, at a cautious 4.0× about £37,500. Buying with a partner roughly halves the individual requirement, so two equal earners need about £16,700 each. Remember this is the income to qualify on the multiple; lenders also stress-test the monthly payment against your outgoings, and you’ll need a deposit on top of the £150,000.
Can I get a £150k mortgage on £30,000?
Possibly — it depends on the lender’s multiple. A strict 4.5× lender caps a £30,000 income at £135,000, just short of £150,000. But a lender offering 5.0× would lend exactly £150,000 on £30,000, and 5.5× would stretch to £165,000. So the same £30,000 salary is a “no” at one lender and a “yes” at another, purely on criteria. Enhanced multiples above 4.5× usually require clearing conditions like a minimum income or strong profile, so a whole-of-market broker who knows which lenders stretch furthest is the way to find your £150k.
How much is the monthly repayment on a £150k mortgage?
On a £150,000 repayment mortgage over 25 years, expect roughly £834 a month at 4.5%, £877 at 5.0%, or £921 at 5.5%. Extending to a 30-year term lowers these to about £760, £805 and £852 respectively, though a longer term means more interest paid overall. On a £33,333 salary, an £877 payment is about 32% of gross income — within most lenders’ comfort range but tighter after tax and living costs, which is why affordability is stress-tested rather than taken from the income multiple alone.
What deposit do I need alongside a £150k mortgage?
The £150,000 is the loan, so the deposit sits on top and determines the property price. If £150,000 is a 90% loan-to-value mortgage, the property is about £166,667 and you’d need a £16,667 deposit; at 85% LTV, a £176,471 property and £26,471 deposit; at 75% LTV, a £200,000 property and £50,000 deposit. A larger deposit also drops you into a cheaper rate band, lowering the monthly payment and easing affordability. If the deposit is the sticking point, first-time buyer schemes and the Lifetime ISA can help build it.
How much can I borrow on a £150,000 salary?
If you’re asking the reverse question, a £150,000 income typically borrows around £675,000 at 4.5×, rising to £825,000 at 5.5× with lenders that stretch that far. At this income level you’re often into higher-value or high-net-worth lending, where multiples can extend further and criteria differ — complex income, bonus structures and larger loan sizes all factor in. A broker who handles larger loans can tell you the maximum across the market and structure the application to achieve it.
Does buying with a partner lower the salary needed?
Significantly. Joint applications combine both incomes, so the salary each person needs roughly halves. For a £150,000 mortgage at 4.5×, two equal earners need about £16,667 each rather than £33,333 solo. Lenders assess joint affordability on the combined income minus combined outgoings, so two modest salaries often reach further than one larger one. The trade-off is that both parties are jointly liable, and both credit profiles are assessed — so if one partner has adverse credit, it can affect the application, sometimes making a sole or specialist route better.
- MoneyHelper — free, government-backed money guidance
- FCA — Information for consumers (mortgage affordability rules)
- Bank of England — Bank Rate (the base rate behind mortgage pricing)
Important information
nextmove is an introducer, not a lender or adviser. This article is for general information only and does not constitute financial advice. The salary and borrowing figures are illustrative, based on standard income multiples; every mortgage is subject to full affordability assessment, stress testing, credit checks and individual lender criteria, which change. Your actual borrowing depends on your income, outgoings, deposit, credit profile and the lender. Monthly repayment figures assume the rates and terms shown and will differ with your actual rate. We introduce you to FCA-regulated, whole-of-market mortgage brokers who can advise, and we may receive a fee or commission for doing so.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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