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Income for a mortgage of £100,000?

Written By:
Myles Robinson - Expert Finance Advisor

Posted: Jan 8, 2023

Emma Lunn

Fact Checked By:
Emma Lunn - Finance Editor

What is the minimum salary required to get a £100,000 mortgage?

One of the factors mortgage lenders look at when deciding how much to lend you is the income multiples required for your mortgage.

This can vary from lender to lender.

Most lenders will offer you 4.5x your income. So if you want to borrow £100,000 you’ll need an income of £22,222.

Some lenders will offer you 5x your income as a mortgage, and with these lenders, you could get a £100,000 mortgage if you earned £20,000 a year.

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Can I get a £100,000 mortgage?

You should be able to get a £100,000 mortgage if you earn £22,222 a year. This could be on your own or jointly if you get a mortgage with someone else.

The interest rate on the mortgage will determine how much a £100,000 mortgage will cost you.

How much deposit you put down will also affect how much you pay.

The loan-to-value ratio (LTV) determines how much deposit you will need. This is basically how much a lender will offer you in relation to the property’s value.

The lower your LTV, the better the mortgage rates you’ll be able to find.

A mortgage application that has a high LTV (and low deposit) is considered riskier and will have a higher interest rate.

You can find a £100,000 mortgage with just a 5% deposit but the interest rate will be high.

Other factors that will affect your mortgage application include:

  • Your credit history
  • Whether you are employed or self-employed
  • How affordable will the mortgage be for you

Why is income important to a mortgage lender?

It is vital that lenders have an idea of your income in order to determine if you can afford your £100k mortgage payments. To assess your ability to pay your mortgage, your income (plus your partner’s if you have a joint mortgage), is assessed alongside your outgoings.

Calculating your debt-to-income ratio will determine affordability. Lenders will look at you favourably if your debt-to-income ratio is lower (the less you have to pay compared to how much you earn).

Some lenders may be more generous than others depending on your financial situation. Many lenders will only lend 4x or 4.5x your annual income, but others will loan you as much as 5x and a small number up to 6x.

What is the minimum salary required to get a mortgage of £100,000.

If a lender was happy to lend you a maximum amount of 4x your annual income, the minimum salary you would need for a £100,000 mortgage would be £25,000.

Check out our mortgage affordability calculator to find out how it might look for you and your income.

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What other factors can impact your eligibility for a £100,000 mortgage?

Your job

Your eligibility for a mortgage can be affected by your employment status. Certain types of employment are considered riskier than others.

For example, being self-employed can make it difficult to get approved by lenders. This depends on how long you have been your own boss and if you have the financial records to back up the figures you provide.


The more deposit you have, the more lenders you will be able to access and the better rates that you’ll get. A few providers will grant you a mortgage with a 5% deposit. This means that a £5,000 deposit could be sufficient to get a £100k mortgage. Many will require a 10% to 15% deposit. Others may be more willing to consider you if you have 20% to 25%.

  • Lenders will generally lend mortgages to those who have a deposit of at least 5-10%.
  • 5% would be equivalent to £5,000 for a £100,000.
  • Other lenders may prefer a 15% deposit, which would be £15,000.

A higher deposit will lower your loan-to-value ratio (the amount of property you own) and give you greater flexibility when it comes to mortgage deals. Your credit history and employment history will also impact your eligibility for mortgage financing. These will be asked about by your mortgage advisor and included in the search to find you a deal.

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Negative Credit Issues

Bad credit history is not a problem for all mortgage providers. Some lenders may ask for a higher deposit, charge higher interest rates, limit the amount they will lend you, or require a larger deposit.

Certain types of adverse credit will be more likely to affect your application than others because of the associated risk. However, all lenders have different eligibility requirements.

If you have had any adverse experiences and worry that this will affect your chances of getting a mortgage for a £100k mortgage, please visit our How to Get a Mortgage with Bad Credit or Get in Touch.


It is often more difficult for older borrowers to obtain a mortgage than for younger borrowers. This is because they are considered at higher risk. Some lenders limit the amount they will lend or place a maximum age limit on the time you can borrow. If you are already own a property, equity release might be an option.

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Types of property

Different rules apply to depend on the property type. For example, lenders may require a larger deposit if you borrow for a buy-to-let (BTL) and will base your affordability on your rental income, rather than your salary.

Many providers will require a higher deposit if you are applying for a mortgage to purchase a second house. This is usually around 25%.


Is it possible to get a £100,000 mortgage if you are self-employed?

Yes, it is possible to get a £100,000 mortgage if you are self-employed. You will need to prove your income with tax statements from HMRC and certified accounts.

Lenders prefer self-employed applicants to have been trading two years or more, although some lenders will lend to you after just one year in business.

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Are you eligible for a £100,000 Buy-to-Let mortgage?

Buy-to-let mortgages normally require a deposit of 25% or more. How much you can borrow will also depend on how much rent you can charge for the property.

Are you eligible for a £100,000 interest-only mortgage?

Yes, many buy-to-let mortgages are interest-only and some providers offer residential mortgages with interest only.

Repayments are lower on an interest-only mortgage as you only pay the interest, not the capital.

At the end of the term on an interest-only mortgage you’ll need to repay the capital you originally borrowed.

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Talk to a mortgage expert today

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