Can I Get a Mortgage for 5 Times My Salary? Here’s What You Need to Know
If you’ve been searching online for “can I get a mortgage 5 times my salary?”, you’re not alone. It’s a common question for people looking to maximise their borrowing, whether you’re a first-time buyer, moving home, or looking to remortgage.
At Mortgage Bridge, we help people in complex and unique situations, including those wanting to borrow 5 times their salary for a mortgage. In this guide, we’ll walk you through how getting a mortgage for up to and over 5x your income can work, which lenders may offer it, and what you need to consider before you apply.
What Does Borrowing 5 Times Your Salary Actually Mean?
When lenders talk about borrowing 5 times your salary for a mortgage, they’re referring to the income multiple they use to calculate the maximum loan available. For example, if you earn £40,000 a year, a 5x multiple would mean a potential mortgage of £200,000.
Is It Possible to Get a Mortgage for 5 Times Your Income?
Getting a mortgage 5x income isn’t impossible, but it depends on the lender, your circumstances, and your income level. Many mortgage lenders offering 5x income multiples will look at:
✅ Your income stability
✅ Your deposit size
✅ Credit history
✅ Employment type
This is why speaking to a broker can help identify which lenders offer 5 times income mortgage options that match your profile.
What Is the Typical Income Multiple for a Mortgage?
Most lenders typically offer mortgage affordability at 4 to 4.5x income. However, it’s possible to get mortgage options for high income multiples if you meet certain criteria, such as having a higher income, being in a stable profession, or having a strong credit record.
Who Can Qualify for a Mortgage Over 5 Times Their Salary?
You might be wondering, “Can you get a mortgage over 5 times income?” The answer is yes, but these higher multiples are generally available to:
- Professionals such as doctors, accountants, and solicitors
- High earners (often £50,000–£75,000+)
- Applicants with a strong deposit and clean credit history
Some mortgage lenders offering 5x income may even go up to 5.5x or 6x for specific professions.
What Income Do Lenders Use for a 5x Income Mortgage?
If you’re searching for “what income do lenders use for mortgage 5x”, here’s a clear breakdown:
✅ Basic salary
✅ Bonuses, commission, and overtime (often averaged over two years)
✅ Second job income
✅ Dividend income if you’re a limited company director
✅ Certain benefit income in some cases
Different lenders have different policies, so knowing how much mortgage you can get based on income and which parts of your income will be considered is crucial.
How Much Can I Borrow If I Get a 5x Income Mortgage?
If you’re calculating “how much mortgage can I get based on income” using a 5x multiplier:
- £35,000 salary x 5 = £175,000
- £50,000 salary x 5 = £250,000
- £70,000 joint income x 5 = £350,000
While these figures look promising, mortgage affordability at 5x income will still be subject to lender affordability checks to ensure you can manage monthly repayments comfortably.
Can I Get a 5x Mortgage If I Have Bad Credit?
Getting a mortgage with bad credit 5x salary can be more challenging but not impossible. At Mortgage Bridge, we work with people who have:
- Defaults or CCJs
- Missed payments
- Debt management plans
While many high-street lenders may limit borrowing to lower income multiples for adverse credit cases, some specialist lenders may still consider borrowing 5 times salary for a mortgage if your credit issues are historic and you can demonstrate improved financial management.
Do I Need a Bigger Deposit for a 5x Salary Mortgage?
If you’re looking to get a mortgage 5.5 times salary or higher, having a larger deposit will significantly improve your chances of approval and may give you access to better rates. While 5-10% is a minimum for many lenders, a 15-20% deposit will strengthen your application, especially if your goal is getting a mortgage for high earners at 5x salary.
Can Contractors, Self-Employed, and Company Directors Get a 5x Income Mortgage?
If you’re self-employed or a contractor, you may wonder, “Can I get a mortgage 5 times my salary?” Many lenders will:
- Consider your average income over the last 2 years
- Use day rates multiplied across the year for contractors
- Include dividends and retained profit for limited company directors
At Mortgage Bridge, we have experience helping clients secure a mortgage for professionals 5x income even with complex income streams.
Is It Risky to Borrow 5 Times Your Salary on a Mortgage?
A mortgage borrowing 5 times joint income can allow you to purchase a home that better meets your needs, but it’s important to consider:
⚠️ Higher monthly repayments
⚠️ Less flexibility if your income changes
⚠️ The impact of potential interest rate rises
We’ll help you run affordability checks to ensure your mortgage options for high income multiples are realistic and sustainable.
How Can a Broker Help You Secure a Mortgage 5 Times Your Income?
Securing a mortgage 5 times your salary can feel overwhelming when lenders each have different criteria. A broker can:
✅ Identify which lenders offer 5 times income mortgage
✅ Navigate mortgage affordability at 5x income and your specific circumstances
✅ Help you structure your application, especially if you have variable income or past credit issues
✅ Avoid failed applications that can harm your credit record
What Steps Should You Take If You Want a Mortgage for 5 Times Your Salary?
If you’re serious about getting a mortgage 5x income, consider:
✅ Checking your credit report and addressing issues
✅ Reducing existing debt to improve affordability
✅ Saving for a larger deposit
✅ Preparing proof of income, including payslips, accounts, or SA302s
✅ Speaking to a broker to match you with mortgage lenders offering 5x income that align with your goals
Ready to See If You Can Get a Mortgage 5 Times Your Income?
If you’re looking to get a mortgage for up to and over 5x your salary, we’re here to help you understand your options and move forward with confidence. At Mortgage Bridge, we specialise in helping people with complex income, adverse credit, and those looking for higher borrowing multiples, ensuring your mortgage fits your budget and long-term plans.