What Salary Do I Need for a £350,000 Mortgage?
You typically need a salary of £53,900 to £78,000 for a £350,000 mortgage. Best-case at a 6.5× lender is around £53,900; standard 4.49× lenders need £78,000. £350k is a common borrowing level for second-steppers and dual-income households moving up to a larger family home. Figures are subject to lender criteria, affordability and credit assessment. Last reviewed July 2026.
Minimum Salary for a £350,000 Mortgage by Lender
Single employed applicant, 25-year repayment term, no additional debts.
| Lender | Multiple | Min Salary |
|---|---|---|
| HSBC Premier | 6.5× | £53,900 |
| Nationwide (Helping Hand) | 6.0× | £58,400 |
| Barclays | 6.0× | £58,400 |
| NatWest (higher income) | 6.0× | £58,400 |
| Aldermore | 6.0× | £58,400 |
| Cumberland BS | 6.0× | £58,400 |
| Leeds BS (Income Plus) | 5.5× | £63,700 |
| Halifax | 5.5× | £63,700 |
| Santander | 5.5× | £63,700 |
| TSB | 5.5× | £63,700 |
| Skipton BS | 5.5× | £63,700 |
| Virgin Money | 5.5× | £63,700 |
| Principality BS | 5.5× | £63,700 |
| Accord Mortgages | 5.5× | £63,700 |
| Coventry BS (affordability-led) | 4.49× | £78,000 |
| Pepper Money (affordability-led) | 4.49× | £78,000 |
Published income multiples, June 2026. Higher-multiple products subject to qualifying criteria.
How to Qualify for £350k on a Lower Salary
- Declare overtime, bonuses and commission — lenders take 50%–100%. £64k base + a £14k bonus at 50% comfortably meets the 5× threshold.
- Add a second applicant. £40k + £38k combined hits the multiple with no individual high-earner required.
- Use a professional mortgage. Qualifying doctors, accountants and solicitors can access 5.5×, dropping the salary needed to around £63,700.
- Clear small credit card balances. £3,000 of balances costs roughly £9,000 of borrowing.
- Extend the term to 30 or 35 years to reduce the stressed monthly payment, subject to age at end of term.
£350,000 Mortgage Monthly Repayments
| Rate | 25 Years | 30 Years | 35 Years |
|---|---|---|---|
| 4.0% | £1,847 | £1,671 | £1,550 |
| 4.5% | £1,945 | £1,773 | £1,656 |
| 5.0% | £2,046 | £1,879 | £1,766 |
| 5.5% | £2,149 | £1,987 | £1,880 |
| 6.0% | £2,255 | £2,098 | £1,996 |
Deposit Needed for a £350,000 Mortgage
| Deposit % | Deposit £ | Property Price |
|---|---|---|
| 5% | £18,421 | £368,421 |
| 10% | £38,889 | £388,889 |
| 15% | £61,765 | £411,765 |
| 20% | £87,500 | £437,500 |
| 25% | £116,667 | £466,667 |
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, which can be decisive at this loan size.
- Contractor on a day rate — day rate × 5 × 46 weeks. £350/day = £80,500 assessed income, comfortably above the £350k threshold.
What Could Stop You Hitting £350,000?
- Dependent children — each reduces borrowing by £8,000–£15,000.
- Credit card balances — 3% of balance used as notional monthly. £4,000 balance ≈ £12,000 less borrowing.
- Car finance — £400/month PCP = £24,000–£32,000 less borrowing.
- School fees — treated as a fixed outgoing; £1,500/month can reduce borrowing by £90,000 or more at some lenders.
- Existing unsecured debt — personal loan monthly payments are deducted pound-for-pound.
See exactly which lenders will give you £350k — with your income
Find out who will lend you £350,000
No credit search. Results in 2 minutes.
Check My £350k EligibilityFrequently Asked Questions
What salary do I need for a £350,000 mortgage in the UK?
Most UK lenders will offer a £350,000 mortgage on a single income of around £70,000 to £78,000, using a 4.49× to 5× multiple. Higher-multiple lenders at 5.5× need around £63,700, lenders at 6.0× need about £58,400, and HSBC Premier at 6.5× will lend £350k to a single applicant on roughly £53,900 — all subject to lender criteria, affordability and credit assessment.
Can I get a £350k mortgage on £60,000?
£60,000 is a 5.83× income multiple for £350k — above the standard cap but achievable at a 6.0× lender such as Nationwide, Barclays or NatWest (which need about £58,400), with HSBC Premier at 6.5×, or with a 5.5× scheme plus modest bonus income. Most lenders on £60k alone will offer £270,000–£300,000; stretching to £350k typically needs an enhanced multiple, variable income, or a second applicant, subject to lender criteria, affordability and credit assessment.
How much deposit do I need for a £350,000 mortgage?
5% deposit on a £350k mortgage means buying a £368,400 property with £18,400 down. 10% is £38,900 on £388,900. First-time buyer stamp duty is £0 up to £300,000 and 5% on the portion above, so an FTB buying around £370k pays roughly £3,500. Lower deposits typically mean higher rates.
What are the monthly repayments on a £350,000 mortgage?
£350,000 at 4.5% over 25 years costs around £1,945 per month (repayment). At 5.0% it's about £2,046, at 5.5% it's about £2,149. Extending to a 30-year term at 4.5% drops the payment to roughly £1,773.
What salary do joint applicants need for £350k?
Combined household income of around £70,000 to £78,000 is enough for £350k at most lenders. Two people on £35k–£39k each hit the threshold, so £350k is well within reach for a dual-income household before relying on any enhanced multiple, subject to lender criteria, affordability and credit assessment.
Next step in your buying journey
Ready to start the buying process?
Once you know what you can borrow, the next stages are getting mortgage ready, a Decision in Principle, and the property search. Our complete 11-stage buying guide walks you through everything from today to collecting the keys.
See the Full UK Home Buying Journey →
