What Salary Do I Need for a £150,000 Mortgage?
You typically need a salary of £27,000 to £33,500 for a £150,000 mortgage. Best-case at a 6× lender is around £25,000; standard 4.5× lenders need £33,333. £150k is the most accessible mortgage tier for first-time buyers outside London and the South East.
Minimum Salary for a £150,000 Mortgage by Lender
Single employed applicant, 25-year repayment term, no additional debts.
| Lender | Multiple | Min Salary |
|---|---|---|
| HSBC Premier | 6.25× | £24,000 |
| Halifax (prof.) | 5.5× | £27,300 |
| Nationwide (Helping Hand) | 5.5× | £27,300 |
| Santander (high earner) | 5.5× | £27,300 |
| Barclays | 5.0× | £30,000 |
| NatWest | 5.0× | £30,000 |
| TSB | 5.0× | £30,000 |
| Coventry BS | 4.75× | £31,600 |
| Virgin Money | 4.75× | £31,600 |
| Accord Mortgages | 4.5× | £33,400 |
| Skipton BS | 4.5× | £33,400 |
| Leeds BS | 4.5× | £33,400 |
| Principality BS | 4.5× | £33,400 |
| Aldermore | 4.49× | £33,500 |
| Pepper Money | 4.49× | £33,500 |
Published income multiples, April 2026. Higher-multiple products subject to qualifying criteria.
How to Qualify for £150k on a Lower Salary
- Declare overtime, bonuses and commission — lenders take 50%–100%. £27k base + £4k regular overtime meets the 5× threshold.
- Add a second applicant. £18k + £15k combined hits the 5× multiple with no individual high-earner required.
- Extend the term to 30 or 35 years. Younger applicants often qualify for longer terms, reducing the stressed monthly payment.
- Clear small credit card balances. £1,500 of balances costs roughly £4,500 of borrowing.
- 95% LTV products are available at Yorkshire BS, Nationwide and Halifax for buyers with a £7,900 deposit.
£150,000 Mortgage Monthly Repayments
| Rate | 25 Years | 30 Years | 35 Years |
|---|---|---|---|
| 4.0% | £792 | £716 | £665 |
| 4.5% | £834 | £760 | £711 |
| 5.0% | £877 | £805 | £757 |
| 5.5% | £921 | £852 | £805 |
| 6.0% | £966 | £899 | £854 |
Deposit Needed for a £150,000 Mortgage
| Deposit % | Deposit £ | Property Price |
|---|---|---|
| 5% | £7,895 | £157,895 |
| 10% | £16,667 | £166,667 |
| 15% | £26,471 | £176,471 |
| 20% | £37,500 | £187,500 |
| 25% | £50,000 | £200,000 |
Self-Employed or Limited Company Director?
- Sole trader — net profit from your SA302. Most lenders average 2 years; some use latest year if higher.
- Limited company director — salary plus dividends (standard), or salary plus retained profit at Halifax, Clydesdale and Kensington.
- Contractor on a day rate — day rate × 5 × 46 weeks. £150/day = £34,500 assessed income, comfortably above £150k threshold.
What Could Stop You Hitting £150,000?
- Dependent children — each reduces borrowing by £8,000–£15,000.
- Credit card balances — 3% of balance used as notional monthly. £2,000 balance ≈ £6,000 less borrowing.
- Car finance — £200/month PCP = £12,000–£16,000 less borrowing.
- Student loans — Plan 2 starts at £27,295; Plan 1 at £24,990.
- Existing unsecured debt — personal loan monthly payments are deducted pound-for-pound.
See exactly which lenders will give you £150k — with your income
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