£280000 Mortgage Monthly Repayments and Income Needed Explained
If you’re exploring your £280000 mortgage monthly repayments, you’re likely wondering what your payments would look like, how much you’d need to earn, and what factors affect your approval chances.
At Mortgage Bridge, we specialise in helping clients work out realistic figures and find lenders that match their financial situation — whether you’re employed, self-employed, or have past credit challenges.
Let’s break it all down clearly so you can plan your next steps with confidence.
How Much Are £280000 Mortgage Monthly Repayments?
Monthly repayments depend mainly on your interest rate and mortgage term. The shorter the term, the higher the payments — but you’ll save thousands in interest overall.
Here’s an approximate breakdown of what to expect:
| Interest Rate | Term (Years) | Approx. Monthly Repayment |
|---|---|---|
| 3% | 10 | £2,694 |
| 3% | 20 | £1,552 |
| 3% | 25 | £1,326 |
| 4% | 25 | £1,480 |
| 5% | 25 | £1,639 |
| 6% | 25 | £1,805 |
So if you take a £280000 mortgage over 25 years at 5% interest, you’d be paying roughly £1,639 per month.
Your exact amount may differ slightly based on your deposit, credit score, and lender’s criteria. We can help calculate your personalised £280000 mortgage monthly repayments before you apply.
What Income Do You Need for a £280000 Mortgage?
Most lenders use a multiple of your income to calculate affordability — usually 4 to 4.5 times your annual earnings.
That means you’d need:
- At 4× income: £70,000 per year
- At 4.5× income: £62,222 per year
If you’re buying with someone else, your joint incomes are added together. For instance, two people earning £31,000 and £32,000 could jointly qualify for around £280,000.
Lenders also review your monthly outgoings (credit cards, loans, car finance, childcare costs). The cleaner your finances, the more generous your borrowing limit will be.
If your situation is more complex, such as variable income or self-employment, we can help present your income clearly to the right lenders.
What Deposit Do You Need for a £280000 Mortgage?
Your deposit size has a big impact on both your approval chances and the rate you’ll be offered.
Here’s what that looks like:
- 5% deposit: £14,000
- 10% deposit: £28,000
- 15% deposit: £42,000
If your credit record is less than perfect, a deposit of 15–20% can make a huge difference.
Already a homeowner? Your existing equity often acts as your deposit when remortgaging.
We cover more about this topic in our guide to remortgaging options and equity release.
Can You Get a £280000 Mortgage on One Income?
Yes — many people successfully get a mortgage on one income.
As long as you meet the affordability requirements and can show stable earnings, single applicants can be approved for a £280000 mortgage.
Lenders will check your payslips (if employed) or accounts (if self-employed) and your bank statements to confirm that your spending is sustainable.
We discuss this further in our guide to getting a mortgage on one income, which includes tips for single buyers and self-employed applicants.
How Lenders Assess Your Application
When applying for a mortgage, lenders perform a detailed affordability check. They’ll look at:
- Income – from employment, self-employment, or benefits.
- Outgoings – including regular payments, subscriptions, and debts.
- Credit history – to understand your repayment habits.
- Bank statements – usually three to six months’ worth to verify spending patterns.
They’ll also “stress test” your finances — checking if you could still afford repayments if rates increased by 1–2%.
We explain this in more depth in our guide on what lenders look for on bank statements.
Example: £280000 Mortgage at 5% Over 25 Years
To put it into perspective, let’s look at a common example:
- Loan: £280,000
- Term: 25 years
- Rate: 5% fixed
Your monthly repayment would be about £1,639.
Over the term, the total amount repaid would be around £491,700, with roughly £211,700 in interest.
If you made an extra £100 overpayment each month, you could cut more than four years off your term and save about £40,000 in interest.
Even small regular overpayments can make a big difference — it’s something we often recommend exploring once you’re comfortable with your budget.
Can I Get a £280000 Mortgage with Bad Credit?
Yes — having bad credit doesn’t mean you can’t get approved.
Specialist lenders understand that life events like missed payments, defaults, or even CCJs don’t define your financial future. They’ll look at:
- When your credit issues occurred.
- How things have improved since.
- Whether you’ve maintained stability in recent years.
At Mortgage Bridge, we regularly help clients secure mortgages after credit challenges or even bankruptcy.
If you’re unsure where you stand, we can review your situation and connect you with lenders who take a fairer view.
Can Self-Employed Applicants Get a £280000 Mortgage?
Absolutely. Self-employed people can access the same products as anyone else — it’s just about showing your affordability in the right way.
You’ll usually need:
- Two or three years of SA302s or tax returns
- Business accounts verified by an accountant
- Evidence of ongoing contracts or client work
Some specialist lenders will accept one year of trading if your income is consistent.
We’ve helped everyone from contractors and freelancers to limited company directors get approved for their £280000 mortgage monthly repayments.
What If My Bank Has Already Said No?
If you’ve been declined by your bank, don’t give up.
High-street lenders often apply strict rules and automated decisions that don’t consider real-world circumstances.
At Mortgage Bridge, we work with specialist lenders who take a more flexible, human approach — especially around:
- Past credit issues
- Self-employed income
- Debt management plans
- Unusual or multiple income sources
We’ll present your application clearly and professionally, so you stand the best chance of approval.
Let’s explore your options together.
Key Takeaways
- Monthly repayments for a £280000 mortgage usually range from £1,300–£1,800 depending on rate and term.
- You’ll need an annual income of around £62,000–£70,000.
- A deposit of at least 5–10% is typical, though more can improve rates.
- It’s possible to qualify on one income or even with bad credit.
- Overpayments can significantly reduce total interest and mortgage length.
Understanding your £280000 mortgage monthly repayments helps you make confident, informed decisions before applying.
How Mortgage Bridge Can Help
At Mortgage Bridge, we help clients from all walks of life — including first-time buyers, self-employed professionals, and those rebuilding after credit issues.
We’ll:
✅ Calculate your realistic affordability and repayments
✅ Match you with lenders suited to your situation
✅ Handle the paperwork to make your application smooth
✅ Guide you through every step with clarity and care
If you’d like to see what could work for you, we’re happy to help.