How Much Can I Borrow on a £60000 Income?

If you earn £60,000 a year, you may be asking how much can I borrow on a £60,000 income and whether that salary gives you access to higher mortgage limits. While £60,000 is considered a strong income by most lenders, the final amount you can borrow still depends on affordability, outgoings, credit history, and deposit size.

This guide explains how lenders approach borrowing at this income level and what can affect the final figure offered.

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How much can I borrow on a £60,000 income?

Most lenders start with income multiples before applying affordability checks.

As a broad guide:

• 4 times income = £240,000
• 4.5 times income = £270,000
• 5 times income = £300,000

For many applicants earning £60,000, borrowing commonly falls between £240,000 and £300,000 before detailed affordability testing.

The final figure may be lower or higher depending on your financial commitments and overall risk profile.

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Why income is only the starting point

Income multiples are not guarantees.

Lenders must assess whether monthly mortgage payments remain affordable after all regular outgoings are taken into account. This includes stress testing repayments at higher interest rates.

They will review:

• Existing loans and credit card balances
• Childcare or maintenance payments
• Household bills and living costs
• Travel and commuting expenses

Two applicants earning the same £60,000 can receive very different borrowing outcomes depending on how much disposable income they have left each month.

This is explained further in our guide on what lenders look for on bank statements.

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What deposit is expected on a £60,000 income?

Your deposit does not directly increase income multiples, but it plays a major role in lender choice and affordability flexibility.

Typical expectations include:

• 5% deposit – more limited options and tighter affordability
• 10% deposit – broader lender access
• 15–20% deposit – strongest position with more competitive rates

A larger deposit reduces lender risk, which can help where affordability is borderline or where higher income multiples are required.

This is particularly relevant for buyers using first-time buyer mortgage products.

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How affordability stress testing affects borrowing

Lenders assess whether you could still afford repayments if rates were higher than the initial deal.

Even if a £270,000 mortgage looks affordable today, stress testing may assume significantly higher repayments. If these exceed affordability limits, the maximum loan is reduced.

This explains why some applicants earning £60,000 are offered less than headline income multiples suggest.

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Can you borrow five times income on £60,000?

In some cases, yes.

Certain lenders may consider close to five times income where:

• Credit history is strong
• Outgoings are relatively low
• Employment is stable
• Deposit is above average

These cases are assessed carefully and are not available to everyone. Affordability must still support the higher borrowing level.

If you are applying alone, all affordability is based on one income. We cover this in more detail in our guide on getting a mortgage on one income.

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How credit history impacts borrowing on £60,000

Credit history plays a key role in determining both borrowing limits and interest rates.

Applicants with:

• Clean payment history
• Low credit utilisation
• No recent adverse credit

are more likely to access higher income multiples.

If your credit file includes defaults, CCJs, or previous financial difficulty, borrowing may still be possible, but lenders may limit income multiples or require a larger deposit.

This is explored further in our guide on getting a mortgage after bankruptcy.

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Does self-employment change how much you can borrow?

If your £60,000 income is self-employed, lenders usually assess income differently from salaried applicants.

They may consider:

• Average net profit for sole traders
• Salary and dividends for company directors
• Retained profits with certain lenders

If income fluctuates, some lenders use the lowest year rather than an average, which can reduce borrowing compared to employed applicants on the same headline income.

How income is structured can be as important as the amount itself.

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How existing debts affect borrowing capacity

Ongoing commitments reduce affordability and can lower borrowing limits.

These include:

• Personal loans
• Car finance
• Credit card balances
• Student loan deductions

Even manageable debts are included in affordability calculations. Reducing balances before applying can sometimes increase borrowing without any change to income.

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Why borrowing may be lower than expected

Some applicants earning £60,000 are surprised by lower-than-expected borrowing offers.

Common reasons include:

• High childcare or maintenance costs
• Significant unsecured debt
• Variable or bonus-heavy income
• Recent employment changes
• Credit issues within recent years

In these situations, lenders prioritise long-term sustainability over headline salary.

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How joint applications change borrowing

For joint applications, lenders combine incomes and assess affordability together.

For example:

• One applicant earning £60,000
• Second applicant earning £30,000

Borrowing is assessed on the combined £90,000 income, but both credit histories and all commitments are considered. One weaker profile can still affect the final outcome.

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Can bonuses or additional income be included?

Some lenders may include additional income such as:

• Regular bonuses
• Commission
• Overtime
• Child maintenance
• Certain long-term benefits

Not all lenders accept these in full, and some only include a percentage. This can make a meaningful difference where total income exceeds £60,000.

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What if your bank declines your application?

A decline from one lender does not mean borrowing is impossible.

High street lenders often apply rigid affordability models. Other lenders assess income and outgoings differently, especially where income or credit history is complex.

Understanding lender criteria before applying can help avoid unnecessary rejections.

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How to maximise borrowing on a £60,000 income

You may improve borrowing outcomes by:

• Reducing unsecured debt
• Increasing your deposit
• Avoiding new credit before applying
• Demonstrating stable income
• Keeping bank statements consistent

Even small improvements can have a noticeable impact on affordability calculations.

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Is £60,000 a strong income for a mortgage?

£60,000 is generally viewed as a strong income by most lenders.

It provides access to a wide range of mortgage products, particularly when combined with a reasonable deposit and clean credit history. The key consideration is ensuring repayments remain affordable over the long term.

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Summary: how much can I borrow on a £60,000 income?

In most cases:

• Typical borrowing range: £240,000 to £300,000
• Final amount depends on affordability, not just income
• Deposit size strongly influences options
• Credit history and outgoings can increase or reduce limits

Understanding how lenders assess affordability helps set realistic expectations before applying.

You can learn more about how lenders assess income and spending in our other mortgage guides.
If you want personalised advice, speaking to a regulated mortgage adviser may help.

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This guide provides general information only. Personalised mortgage advice should always come from a regulated mortgage adviser.