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 affordability-led lenders (~4.49×) need £33,500. £150k is the most accessible mortgage tier for first-time buyers outside London and the South East. All figures are subject to lender criteria, affordability and credit assessment. Last reviewed July 2026.
Salary Needed for a £150,000 Mortgage in the UK, by Lender
Single employed applicant, 25-year repayment term, no additional debts.
| Lender | Multiple | Min Salary |
|---|---|---|
| HSBC Premier | 6.5× | £23,100 |
| Nationwide (Helping Hand) | 6.0× | £25,000 |
| Barclays | 6.0× | £25,000 |
| NatWest (higher income) | 6.0× | £25,000 |
| Aldermore | 6.0× | £25,000 |
| Cumberland BS | 6.0× | £25,000 |
| Leeds BS (Income Plus) | 5.5× | £27,300 |
| Halifax | 5.5× | £27,300 |
| Santander | 5.5× | £27,300 |
| TSB | 5.5× | £27,300 |
| Skipton BS | 5.5× | £27,300 |
| Virgin Money | 5.5× | £27,300 |
| Principality BS | 5.5× | £27,300 |
| Accord Mortgages | 5.5× | £27,300 |
| Coventry BS (affordability-led) | 4.49× | £33,500 |
| Pepper Money (affordability-led) | 4.49× | £33,500 |
Published income multiples, June 2026. Higher-multiple products subject to qualifying criteria.
£150,000 Mortgage: Monthly Cost, Income and Deposit
A £150,000 mortgage costs £877 a month at 5% over 25 years on a repayment basis. You typically need a salary of £27,000 to £33,500 depending on the lender, and a deposit starting at £7,900 (5%), rising to £16,700 at 10% deposit.
£150k is one of the most accessible mortgage tiers in the UK — achievable on a single modest salary or two smaller incomes combined — and most properties at this level fall well under the first-time-buyer stamp duty threshold, so many buyers pay no SDLT at all. All figures are subject to lender criteria, affordability and credit assessment.
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 Nationwide and Halifax for buyers with a £7,900 deposit.
How Much Is a £150,000 Mortgage a Month? Repayments by Rate and Term
| Rate | 25 Years | 30 Years | 35 Years |
|---|---|---|---|
| 4.0% | £792 | £716 | £664 |
| 4.5% | £834 | £760 | £710 |
| 5.0% | £877 | £805 | £757 |
| 5.5% | £921 | £852 | £806 |
| 6.0% | £966 | £899 | £855 |
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?
Work out the income figure lenders will actually use with our free self-employed income calculator — salary + dividends, net profit and retained-profit bases compared side by side.
- 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 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 £29,385; Plan 1 at £26,900 (2026/27).
- Existing unsecured debt — personal loan monthly payments are deducted pound-for-pound.
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Check My £150k EligibilityFrequently Asked Questions
What salary do I need for a £150,000 mortgage in the UK?
Most UK lenders will offer a £150,000 mortgage on a single income of £30,000 to £33,500, using an affordability-led multiple of around 4.49× to 5×. Higher-multiple lenders at 5.5× need around £27,300, lenders stretching to 6× need about £25,000, and HSBC Premier at 6.5× could lend £150k to a single applicant on roughly £23,100 — though the top multiples are gated by income and scheme criteria, and all lending is subject to affordability and credit assessment.
Can I get a £150k mortgage on £25,000?
£150k on £25,000 is a 6× income multiple. That now sits within reach of the highest-multiple lenders — Nationwide (Helping Hand), Barclays, NatWest, Aldermore and Cumberland BS publish up to 6× — but those products are gated by income and scheme criteria and remain subject to affordability and credit assessment. Most mainstream lenders on £25k alone, at roughly 4.49×–5×, will offer £112,000–£125,000; reliably stretching to £150k typically needs bonus income, a second applicant, or a longer term.
What is the monthly payment on a £150,000 mortgage?
£150,000 at 5% over 25 years costs £877 per month (repayment). At 4.5% it's £834, at 5.5% it's £921. Extending to a 30-year term at 5% drops the payment to £805.
How much deposit do I need for a £150,000 mortgage?
5% deposit on a £150k mortgage means buying a £157,900 property with £7,900 down. 10% is £16,700 on £166,700. First-time buyer stamp duty is £0 up to £300,000 and 5% on the portion from £300,001 to £500,000. At £150k mortgage purchase levels (most properties under £200k), FTBs pay no stamp duty at all. Lower deposits typically mean higher rates.
What salary do joint applicants need for £150k?
Combined household income of £30,000 to £33,500 is enough for £150k at most lenders. Two people on £15k–£17k each hit the threshold. For joint applicants in their 20s or early 30s just starting out, £150k is usually the most accessible borrowing tier.
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