£80,000 Mortgage: What Are the Monthly Repayments and Income Requirements?
If you’re looking at an £80,000 mortgage, you’re probably wondering two things:
- How much will the repayments be?
- What income do I need to get it approved?
At Mortgage Bridge, we’ve helped people in all sorts of situations — from those with squeaky-clean credit to people with complex income or a few bumps in their credit history. In this guide, we’ll break down £80,000 mortgage monthly repayments, what salary you might need, and the other things lenders check before giving you the green light.
How Much Are Monthly Repayments on an £80,000 Mortgage?
Your monthly payment will depend on four main things:
- The interest rate you get
- The mortgage term (how many years you take to pay it back)
- Whether you go for repayment or interest-only
- Whether any fees are added to the loan
Most people we work with go for a repayment mortgage, where each payment chips away at both the interest and the amount you’ve borrowed.
What Do £80,000 Mortgage Repayments Look Like at Different Terms and Rates?
Let’s run through some examples. These are just illustrations so you can see how rates and terms change the monthly cost.
| Term | 3% interest | 4% interest | 5% interest | 6% interest |
|---|---|---|---|---|
| 20 years | £444 | £484 | £528 | £573 |
| 25 years | £379 | £422 | £467 | £515 |
| 30 years | £337 | £382 | £429 | £479 |
| 35 years | £306 | £353 | £402 | £454 |
For example:
- A £80,000 mortgage over 25 years at 5% interest is roughly £467 a month.
- Stretch it to 30 years and you’re looking at about £429 a month — but you’ll pay more interest overall.
What Salary Do I Need for an £80,000 Mortgage?
Most lenders work on an income multiple, usually between 3.5x and 5.5x your annual salary.
Here’s a rough guide to the minimum income needed:
| Lending Multiple | Minimum Annual Income |
|---|---|
| 3.5x | £22,857 |
| 4x | £20,000 |
| 4.5x | £17,778 |
| 5x | £16,000 |
| 5.5x | £14,545 |
If you’ve got other commitments like loans or childcare costs, the income you’ll need could be higher.
What Else Do Lenders Check Apart from Salary?
Even if your income ticks the box, lenders look at the bigger picture. They’ll want to know about:
- Loans, credit cards, and other regular payments
- Your average monthly spending
- How many dependants you have
- Whether you’re employed, self-employed, or a contractor
- Your credit history
If you’ve got complex income — like contracting or multiple income streams — it’s still possible, but you’ll likely need extra proof.
How Much Deposit Do I Need for an £80,000 Mortgage?
Most lenders ask for at least 5–10% of the property value.
For example:
- With a 5% deposit, on a £84,210 property, you’d need £4,210.
- With a 10% deposit, on a £88,888 property, you’d need £8,888.
The bigger your deposit, the better your rate usually is — especially if you’ve got any credit issues.
Should I Fix or Go Variable on an £80,000 Mortgage?
We get asked this a lot. A fixed rate locks your payments for a set period (2, 3, or 5 years), so your budget is predictable. A variable rate can go up or down depending on the market — great if rates drop, not so much if they rise.
If you need certainty in your budget, fixing is usually the safer bet.
Can I Get an £80,000 Interest-Only Mortgage?
It’s possible, but rare for residential mortgages. With interest-only, you just pay the interest each month — the £80,000 balance stays the same until the end of the term. You’d need a clear repayment plan for that lump sum.
Can I Get an £80,000 Mortgage with Bad Credit or Complex Income?
Yes — and this is something we deal with all the time at Mortgage Bridge.
Whether you’ve had defaults, CCJs, missed payments, or you’re self-employed with multiple income streams, there are lenders out there who might help.
It’s often about knowing which lenders to approach and how to package your application.
What Other Costs Should I Budget for with an £80,000 Mortgage?
On top of your mortgage payments, remember to budget for:
- Product or arrangement fees
- Valuation and survey fees
- Solicitor costs for conveyancing
- Buildings insurance
- Possible Stamp Duty (depending on property price)
- Ongoing maintenance
How Does Changing the Term Affect My £80,000 Mortgage?
Here’s a quick comparison:
25 years at 5% interest
- £467 per month
- Total cost: £140,100 (£60,100 interest)
20 years at 5% interest
- £528 per month
- Total cost: £126,720 (£46,720 interest)
Shorter term = more each month but less interest overall.
How Can I Improve My Chances of Getting an £80,000 Mortgage?
Here are some of the tips we give our clients:
- Check your credit report and fix any mistakes.
- Save a bigger deposit if you can.
- Pay down debts to improve affordability.
- Get your income documents ready — payslips, P60s, or tax returns.
- Get an Agreement in Principle so you know what’s realistic before house hunting.
What’s the Best Way to Find the Right £80,000 Mortgage Deal?
Even for a smaller loan like £80k, the difference between deals can add up over time. That’s why we recommend getting proper advice. We compare lenders, find ones that fit your situation, and guide you through the application so you’ve got the best chance of approval.
In a nutshell:
- Monthly repayments for an £80,000 mortgage can range from £306 to £573 depending on the term and rate.
- You may need a salary between £14,500 and £23,000 depending on your circumstances.
- Deposit size, credit history, and employment type all matter.
- Even with bad credit or complex income, there are often options.
If you want to see exactly what an £80,000 mortgage could look like for you — with your income, deposit, and credit history — get in touch with us at Mortgage Bridge and we’ll break it down for you.