Mortgage on One Income: Single Person Mortgages Explained Clearly
Buying a home alone is increasingly common, but lenders still assess affordability carefully when only one income is available to support the mortgage. The good news is that getting a mortgage on one income is entirely possible — lenders simply need to see that your income, spending and financial commitments can support the loan amount you want.
This guide explains how affordability is calculated, what income lenders accept, how much you could borrow and how to strengthen your application as a single applicant. This article provides general information only and does not offer regulated mortgage advice.
Can You Get a Mortgage on One Income?
Yes. Many people successfully secure mortgages using a single salary. Lenders do not require joint applicants — they simply assess your ability to afford the repayments based on:
- Your income level
- Your monthly outgoings
- Your credit history
- Deposit size
- Bank statement conduct
- Job stability
A strong application on one income can be as compelling as a joint application if affordability is clear.
How Much Can You Borrow on One Income?
Most lenders use an income multiple of 4× to 4.5× annual salary.
Borrowing Examples
| Gross Annual Income | Typical Maximum Borrowing |
|---|---|
| £20,000 | £80,000–£90,000 |
| £25,000 | £100,000–£112,500 |
| £30,000 | £120,000–£135,000 |
| £35,000 | £140,000–£157,500 |
| £40,000 | £160,000–£180,000 |
Some lenders offer higher multiples for strong applicants, but this varies case by case.
Remember: affordability also depends on your outgoings, not just income.
What Income Lenders Accept for Single Applicants
Lenders assess a wide range of income sources — not just basic salary.
1. Employed Income
Accepted forms include:
- Basic salary
- Overtime (if regular)
- Bonuses (usually averaged)
- Shift allowances
- Commission
2. Self-Employed Income
Lenders typically use:
- 1–3 years of accounts
- SA302s and tax calculations
- Accountant-prepared figures
They look for income stability rather than perfect growth patterns.
3. Additional Acceptable Income
Some lenders also accept:
- Maintenance payments
- Pension income
- Disability benefits
- Rental income (if declared)
- Investment income
Not every lender accepts every income type, so selection matters.
How Lenders Assess Affordability for a Mortgage on One Income
Lenders analyse your disposable income — the money left after bills and essential spending — to ensure you can responsibly cover mortgage repayments.
Key factors include:
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1. Existing Credit Commitments
- Personal loans
- Car finance
- Credit card balances
- Buy Now Pay Later instalments
High commitments reduce affordability significantly on single-income applications.
2. Monthly Living Costs
Lenders consider typical spending on:
- Food
- Travel
- Utilities
- Insurance
- Childcare
- Subscriptions
They compare your spending with national average models and your actual bank statements.
3. Bank Statement Conduct
Lenders review 3–6 months of statements for:
- Consistent income
- No unarranged overdrafts
- No returned payments
- Controlled discretionary spending
Clear, steady conduct strengthens your case.
4. Credit History
A clean credit profile makes lender decisions faster and more favourable, but single-income applicants with minor historic issues may still be accepted depending on deposit and recent conduct.
Deposit Requirements for Single Applicants
Deposit size influences affordability, interest rates and the number of lenders available.
5% Deposit
- Minimum for many lenders
- Suitable for strong credit profiles
- Loan size must fit affordability checks
10% Deposit
- Wider lender access
- Better rates
- Helpful if income is modest
15%–20% Deposit
- Suitable if you have older adverse credit
- Improves affordability on one income
25%+ Deposit
- Unlocks the strongest deals
- Can offset higher outgoings or irregular income
Example Monthly Repayments on a Single-Income Mortgage
Borrowing £150,000 at 5% Interest
| Term | Monthly Repayment |
|---|---|
| 25 years | ~£877 |
| 30 years | ~£805 |
| 35 years | ~£756 |
A longer term can reduce monthly payments, though it increases total interest.
Common Challenges for Single Applicants — and Why They’re Not Deal-Breakers
1. Lower Borrowing Capacity
With only one salary, borrowing limits can be lower. A bigger deposit or lower-term borrowing target can help.
2. Irregular Income
Many lenders accept:
- Commission
- Bonuses
- Overtime
- Flexi-shift patterns
Evidence of consistency is key.
3. Moderate Credit Issues
Some lenders accept:
- Older defaults
- Settled CCJs
- Missed payments over 12 months old
Deposit size and lender selection are important.
4. High Rental Costs
If you currently pay rent similar to the future mortgage payment, lenders may look more favourably at affordability.
How to Strengthen Your Application on One Income
(General Information Only)
1. Reduce Credit Commitments
Lower balances improve maximum borrowing.
2. Improve Bank Statement Conduct
Avoid overdrafts and returned payments for 3–6 months before applying.
3. Save a Bigger Deposit
Extra savings unlock more lenders and better terms.
4. Avoid New Credit
New accounts can reduce affordability.
5. Check Your Credit File Across All Agencies
Confirm information is correct on:
- Experian
- Equifax
- TransUnion
6. Choose a Realistic Loan Amount
Base this on:
- Income
- Spending
- Deposit
- Stability of employment
Example Borrower Scenarios
Scenario 1: Single applicant earning £30,000 with 10% deposit
Likely to borrow between £120,000 and £135,000 with clean credit.
Scenario 2: Self-employed single applicant with 2 years of accounts
Accepted by a wide range of lenders with stable income.
Scenario 3: Single applicant with older, settled credit issues and 20% deposit
Many specialist lenders may consider.
Scenario 4: Applicant earning £22,000 but with no debt and good bank conduct
Borrowing potential improves significantly due to low outgoings.
Summary
Getting a mortgage on one income is entirely achievable with the right preparation. Lenders assess:
- Income stability
- Spending habits
- Credit profile
- Deposit size
- Financial commitments
- Bank statement conduct
Even applicants with modest incomes or past credit challenges can secure a mortgage if recent financial behaviour is strong and affordability is clear.
This article provides general information only. For tailored guidance, regulated mortgage advice is required.
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Important information: Mortgage Bridge provides information only and acts as a mortgage introducer. We do not provide mortgage advice or make lender recommendations. We can introduce you to an FCA-regulated mortgage adviser who can provide personalised mortgage advice.