What Salary Do I Need for a £600,000 Mortgage?
You typically need a salary of £96,000 to £133,000 for a £600,000 mortgage. Best-case at a 6.25× lender is around £96,000; standard 4.5× lenders need £133,334. At this level most borrowers apply jointly or rely on an enhanced high-earner multiple.
Minimum Salary for a £600,000 Mortgage by Lender
Single employed applicant, 25-year repayment term, no additional debts.
| Lender | Multiple | Min Salary |
|---|---|---|
| HSBC Premier | 6.25× | £96,000 |
| Halifax (prof.) | 5.5× | £109,100 |
| Nationwide (Helping Hand) | 5.5× | £109,100 |
| Santander (high earner) | 5.5× | £109,100 |
| Barclays | 5.0× | £120,000 |
| NatWest | 5.0× | £120,000 |
| TSB | 5.0× | £120,000 |
| Coventry BS | 4.75× | £126,400 |
| Virgin Money | 4.75× | £126,400 |
| Accord Mortgages | 4.5× | £133,400 |
| Skipton BS | 4.5× | £133,400 |
| Leeds BS | 4.5× | £133,400 |
| Principality BS | 4.5× | £133,400 |
| Aldermore | 4.49× | £133,700 |
| Pepper Money | 4.49× | £133,700 |
Published income multiples, April 2026. Higher-multiple products subject to qualifying criteria.
How to Qualify for £600k on a Lower Salary
- Declare bonuses, commission and share awards — lenders take 50%–100%. A £110k base plus a £30k bonus at 50% comfortably clears the 5× threshold.
- Add a second applicant. £67k + £67k combined hits the multiple with no individual high-earner required.
- Use a high-earner or professional scheme. Eligible borrowers can access 5.5×, dropping the salary needed to around £109,100.
- HSBC Premier extends to 6.25× for qualifying customers, taking the single-income requirement down towards £96,000.
- Reduce fixed outgoings before applying — at this loan size, car finance and school fees can each move your maximum by six figures.
£600,000 Mortgage Monthly Repayments
| Rate | 25 Years | 30 Years | 35 Years |
|---|---|---|---|
| 4.0% | £3,167 | £2,864 | £2,657 |
| 4.5% | £3,335 | £3,040 | £2,840 |
| 5.0% | £3,508 | £3,221 | £3,028 |
| 5.5% | £3,685 | £3,407 | £3,222 |
| 6.0% | £3,866 | £3,597 | £3,421 |
Deposit Needed for a £600,000 Mortgage
| Deposit % | Deposit £ | Property Price |
|---|---|---|
| 5% | £31,579 | £631,579 |
| 10% | £66,667 | £666,667 |
| 15% | £105,882 | £705,882 |
| 20% | £150,000 | £750,000 |
| 25% | £200,000 | £800,000 |
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, which is often decisive at this loan size.
- Contractor on a day rate — day rate × 5 × 46 weeks. £600/day = £138,000 assessed income, comfortably above the £600k threshold.
What Could Stop You Hitting £600,000?
- Dependent children — each reduces borrowing by £8,000–£15,000.
- Credit card balances — 3% of balance used as notional monthly. £5,000 balance ≈ £15,000 less borrowing.
- Car finance — £700/month on a premium vehicle = £42,000–£56,000 less borrowing.
- School fees — treated as a fixed outgoing; £2,500/month can reduce borrowing by £150,000 or more at some lenders.
- Loss of personal allowance above £100k income — affects net pay used in the affordability stress test.
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