What Salary Do I Need for a £300,000 Mortgage?
You typically need a salary of £50,000 to £66,900 for a £300,000 mortgage in the UK. Best-case is around £50,000 at Cumberland BS (6.0×); standard 4.49× lenders need £66,900. Joint applications or bonus income can lower the salary each applicant needs. All figures are subject to lender criteria, affordability and credit assessment. Last reviewed 12 October 2026.
Salary Needed for a £300,000 Mortgage in the UK, by Lender
Single employed applicant, 25-year repayment term, no additional debts, deposit of 15% (85% LTV) or more, except Aldermore, whose 5.5× and 6× need less than 80% LTV, and NatWest, whose 5.5× below £75,000 income needs 75% LTV or less (at 85% LTV it lends 5×, so £60,000). Sorted lowest salary first. At 90% LTV Barclays, Halifax, HSBC, Lloyds Bank, TSB and Virgin Money need £66,900. At 95% most 5–5.5× lenders fall back to 4.45–5× (£60,000–£67,500) for home movers; Bath BS and Cumberland BS keep 6× (Cumberland 80% in London and the South East).
| Lender | Multiple | Min Salary |
|---|---|---|
| Cumberland BS | 6.0× | £50,000 |
| Bath BS | 6.0× | £50,001 |
| Aldermore | 5.5× (6.0× from £60,000) | £54,600 |
| Barclays | 5.5× (6.0× from £75,000) | £54,600 |
| Leeds BS (Income Plus) | 5.5× (6.0× from £75,000) | £54,600 |
| NatWest | 5.5× (6.0× from £100,000) | £54,600 |
| Nottingham BS | 5.5× | £54,600 |
| Skipton BS | 5.5× | £54,600 |
| Darlington BS | 5.0× | £60,000 |
| Halifax | 5.0× (5.5× over £75,000) | £60,000 |
| HSBC | 5.0× (5.5× from £100,000) | £60,000 |
| HSBC Premier | 5.0× (6.5× from £100,000) | £60,000 |
| Lloyds Bank | 5.0× (5.5× over £75,000) | £60,000 |
| Santander | 5.0× (5.5× from £100,000) | £60,000 |
| TSB | 5.0× (5.5× over £75,000) | £60,000 |
| Virgin Money | 5.0× (5.5× from £75,000) | £60,000 |
| Accord Mortgages | 5.5× | £65,000 |
| Coventry BS (no published multiple) | 4.49× | £66,900 |
| Nationwide | 4.49× (6.0× from £75,000) | £66,900 |
| Pepper Money (no published multiple) | 4.49× | £66,900 |
| Principality BS | 4.49× | £66,900 |
| Metro Bank | 4.45× (5.5× from £100,000) | £67,500 |
Based on published income multiples, October 2026. Higher-multiple products subject to qualifying criteria. Coventry BS and Pepper Money set the maximum by affordability rather than a published multiple, so 4.49× is shown for illustration. HSBC Premier's row uses the income route to Premier (£100,000 or more); customers who hold Premier through £100,000 of savings or investments with HSBC UK get 6.5× at any income, up to 90% LTV.
First-time buyers have extra routes not shown in this table: Nationwide's Helping Hand goes up to 6× on fixes of five years or more, with no published minimum income, and Coventry BS up to 6.5× from £30,000 (sole) or £50,000 (joint), not for self-employed applicants. Principality BS goes to 5.5× from £30,000 household income on 2, 3 and 5-year fixes (loans of £150,000 or more, not self-employed), Accord to 5.5× at any income, and Halifax and Lloyds Bank to 5.5× from £40,000, for first-time buyers. All subject to affordability.
What Salary Do You Need for a £300k Mortgage in the UK?
In the UK, lenders' published multiples suggest a salary of £54,600 to £66,900 for a £300,000 mortgage as a single applicant at standard 4.49×–5.5× lending. Cumberland BS opens 6× at a low enough income to bring the required salary down to around £50,000. HSBC Premier's 6.5× needs Premier status, and Coventry BS's 6.5× is for first-time buyers only (from £30,000 sole, not self-employed), which for an eligible first-time buyer brings £300k within reach from about £46,200.
The salary you need for a £300k mortgage in the UK depends entirely on which lender assesses your application. The table above shows the minimum salary at each of the 20 lenders whose income multiples we model here, plus Pepper Money, which publishes no multiple: from £50,000 at Cumberland BS up to £66,900 at lenders working to the standard 4.49× cap. Our full calculator checks 57 lenders on your own figures. All figures are subject to lender criteria, affordability and credit assessment.
How to Qualify for £300k on a Lower Salary
- Declare bonuses, overtime and commission — lenders take 50%–100%. £55k base + £10k bonus reaches £65k at a 5× lender.
- Add a second applicant. £35k + £25k gives you £60k combined, enough at most 5× lenders.
- Stretch the term to 30 or 35 years. A lower stress-tested monthly payment can raise the maximum loan at lenders that assess full affordability, but you pay more interest overall.
- Clear outstanding credit cards and loans. Each £100 a month of commitments cuts borrowing by about £5,000–£6,500, or about £12,000–£16,000 where the lender's stress-tested affordability check is the limit.
- Look at a professional mortgage range. Some lenders have ranges for qualified, practising professionals: Kensington's Professionals range goes up to 6× (from £35,000 sole or £50,000 joint) for doctors, dentists, barristers, solicitors, accountants and others; Metro Bank's Professional range goes up to 6× for those qualified in the last ten years; Darlington BS goes up to 6× for a wider list that includes nurses, teachers and police; and Principality offers 5.5× to newly qualified professionals. High-street enhanced multiples depend on income and LTV, not your job: Skipton BS from £40,000 sole (LTI Booster), Halifax over £75,000 (or from £40,000 for first-time buyers) and Santander only from £100,000. All subject to lender criteria and affordability.
How Much Is a £300,000 Mortgage a Month? Repayments by Rate and Term
| Rate | 25 Years | 30 Years | 35 Years |
|---|---|---|---|
| 4.0% | £1,584 | £1,432 | £1,328 |
| 4.5% | £1,667 | £1,520 | £1,420 |
| 5.0% | £1,754 | £1,610 | £1,514 |
| 5.5% | £1,842 | £1,703 | £1,611 |
| 6.0% | £1,933 | £1,799 | £1,711 |
Illustrative only — not a quote or an available rate. Repayment (capital and interest) basis, excluding fees; your rate depends on the lender, your loan-to-value and your circumstances.
Deposit Needed for a £300,000 Mortgage
| Deposit % | Deposit £ | Property Price |
|---|---|---|
| 5% | £15,789 | £315,789 |
| 10% | £33,333 | £333,333 |
| 15% | £52,941 | £352,941 |
| 20% | £75,000 | £375,000 |
| 25% | £100,000 | £400,000 |
Self-Employed or Limited Company Director?
Work out the income figure lenders are likely to 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 (usually 25%+ shareholding, depending on the lender): most lenders use salary plus dividends. A few will consider your share of company net profit instead, typically only for majority shareholders: Kensington from over 50% shareholding, and Halifax by underwriter referral where you are the majority shareholder with 2 years' accounts and an accountant's confirmation.
- Contractor on a day rate — day rate × 5 × 46 weeks. A £500/day contractor is assessed at £115,000, above the salary needed for £300k.
What Moves You Between Multiples
The table at the top of this page shows each lender's multiple, but several of those enhanced multiples only apply once your income clears a specific threshold — below it, the lender falls back to a lower band. Here's where the highest tier (6.0×+) actually kicks in:
| Lender | Multiple | Income Needed to Unlock It |
|---|---|---|
| Cumberland BS (any income up to 80% LTV) | 6× | £40,000 above 80% LTV |
| Bath BS | 6× | over £50,000 |
| Aldermore | 6× | £60,000 |
| Barclays | 6× | £75,000 |
| Leeds BS | 6× | £75,000 |
| Nationwide (home movers and remortgagers) | 6× | £75,000 |
| HSBC Premier | 6.5× | Premier account holders, any income |
| NatWest | 6× | £100,000 |
On a £300k mortgage the full amount at 6.0× needs £50,000 of salary, and each lender's income gate decides who could offer it: Cumberland BS from £40,000 above 80% LTV (any income at 80% LTV or below); Bath BS over £50,000; Aldermore from £60,000; Barclays and Leeds BS from £75,000; Nationwide from £75,000 (home movers and remortgagers); NatWest from £100,000; HSBC Premier (Premier account holders, any income). The 5.5× tier opens lower, from £40,000 at Aldermore, Cumberland BS (any income up to 80% LTV) and Skipton BS, and needs £54,600 for the full amount.
Joint Application Worked Examples
Joint applications pool both incomes, and most lenders apply their multiple to the combined figure, though some set higher income thresholds for joint cases (Bath BS's 6× needs over £100,000 joint; Skipton's higher multiples need £60,000 joint). Here's the multiple two incomes need to reach, and a typical split, for £300,000:
| Combined Income | Multiple Needed | Example Split |
|---|---|---|
| £66,900 | 4.49× | £40,000 + £26,900 |
| £60,000 | 5.00× | £35,000 + £25,000 |
| £54,600 | 5.49× | £30,000 + £24,600 |
£66,900 combined reaches £300k at almost any standard 4.49× lender. Below that, you need one of the enhanced-multiple lenders from the table above — and, as with a sole applicant, the combined figure still has to clear that lender's qualifying-income gate, subject to lender criteria, affordability and credit assessment.
What Could Stop You Hitting £300,000?
- Dependent children — where the lender's affordability check, rather than the income multiple, is what limits you, each child adds a modelled living cost of anything from under £100 to about £350 a month, depending on the lender, usually on top of any childcare you pay. That can take roughly £7,000 to £56,000 off the maximum loan per child, less at lenders that count child benefit as income. Where the income multiple caps you first, a child may make little or no difference.
- Credit card balances — lenders often assume 3% of the balance as a monthly payment, so £10,000 of balances (£300 a month) can cost about £15,000–£19,500 of borrowing, or £36,000–£48,000 where the affordability check is the limit.
- Car finance — a £400 a month PCP can cost about £20,000–£26,000 of borrowing, or £48,000–£64,000 where the affordability check is the limit.
- Student loans — Plan 2 repayments kick in above £29,385 (2026/27) and scale with income.
- Existing BTL or second mortgage — monthly payment deducted unless self-financing.
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Check What I Could BorrowFrequently Asked Questions
What salary do I need for a £300,000 mortgage in the UK?
Lenders' published income multiples suggest a single applicant needs a salary of £50,000 to £66,900 for a £300,000 mortgage: about £50,000 at Cumberland BS (6.0×), £54,600 at a 5.5× lender and £66,900 at a standard 4.49× lender. HSBC Premier's 6.5× needs Premier status (£100,000 income paid into HSBC, or £100,000 of savings or investments with HSBC). Coventry BS's 6.5× is for first-time buyers only (from £30,000 sole, not self-employed): for an eligible first-time buyer that brings £300k within reach from about £46,200, subject to affordability and Coventry's scorecard. All subject to lender criteria, affordability and credit assessment.
How much deposit do I need for a £300,000 mortgage?
At 5% deposit, a £300,000 mortgage means buying a £315,789 property with £15,789 down. At 10% it's a £33,333 deposit on a £333,333 property, and at 15% it's £52,941 on £352,941.
What are the monthly repayments on a £300,000 mortgage?
As an illustration, £300,000 at 5% over 25 years costs £1,754 per month (repayment). At 4.5% it's £1,667, at 5.5% it's £1,842. Extending to 30 years at 5% drops the payment to £1,610, though you pay more interest overall. These are illustrative figures, not quotes or available rates, and exclude fees.
What salary do joint applicants need for a £300,000 mortgage?
Combined household income of £50,000 to £66,900 could be enough for £300,000, depending on the lender — for example £35,000 + £25,000, £30,000 + £30,000, or £40,000 + £25,000. Joint applications use your total combined income, but some lenders set different income thresholds for joint cases: for example, Bath BS's 6× needs over £100,000 joint income (over £50,000 single), and Skipton's higher multiples need £60,000 joint (£40,000 single). All subject to lender criteria, affordability and credit assessment.
Does a longer mortgage term reduce the salary I need for £300,000?
Not usually at income-multiple lenders — their minimum salary is based purely on income × multiple, so it doesn't change with term. It can help at lenders that assess on full affordability rather than a flat multiple, since a 30- or 35-year term lowers the stressed monthly payment and can increase what a given salary supports. Worth checking both routes if you're just short of a lender's threshold.
Do lenders count all of my bonus or commission towards the salary needed for £300,000?
Not always in full. Some lenders take the lower of your last 12 months' variable pay or a 2-year average — Halifax, for example, uses the lower of the two for bonus and commission. That protects against income inflated by one exceptional year, but it also means a recent bonus spike may not close the gap to £300k as much as it first appears to.
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