All about UK mortgage affordability

What does mortgage affordability mean from a lender’s point of view?

From a lender’s perspective, affordability means assessing whether you can realistically repay the loan.

Example: If your disposable income is £1,000 but your mortgage payment is also £1,000, you have no buffer for other expenses or life changes.

Lenders don’t just check if you can pay today they also stress test your situation. They model potential changes, such as higher expenses, interest rate rises, or changes in family circumstances, to ensure you can still afford repayments.

How can someone boost their mortgage affordability without earning more?

Earnings are the main driver, but there are still ways to improve affordability:

• Improve your credit profile – Clear up issues on your credit file.
• Check different lenders – Some lenders will only lend 4.5× your income, while others might go up to 5×, 6×, or even 7×. Choosing the right lender can make a big difference.
• Control income and expenses – Managing your money better helps show lenders you are financially responsible.

Does reducing commitments or debts help with affordability?

Yes, absolutely.

Credit cards:

• Having many cards makes lenders worry you might borrow more.
• If you keep balances low and pay them in full every month, lenders are generally comfortable.
• Avoid carrying large balances or unnecessary credit cards.

Subscriptions & expenses:

• Duplicate costs (e.g., Amazon Prime, Netflix, and similar services) add up.
• Excessive entertainment spending can be flagged by lenders as a “commitment.”
• Reviewing your bank statements periodically and trimming expenses improves your affordability profile.

Does getting a joint mortgage improve affordability?

Yes, it does.

Combining incomes increases borrowing power.

Example: £25,000 income alone × 4.5 = £112,500.

Joint £50,000 income × 4.5 = £225,000.

From the bank’s perspective, joint applications reduce risk if one applicant can’t pay, the other may still manage.

Legal benefits:

Having both partners on the mortgage avoids complicated legal processes if one partner passes away. This is especially important for married couples or families with children.

Are there tools or calculators to check affordability before applying?

Yes, there are several options:

• Bank calculators: Each bank provides its own affordability calculator, but results are based only on that bank’s criteria.
• Broker calculators: Brokers often provide more comprehensive tools. For example, If’s team offers a calculator that gives a range of possible borrowing amounts best case vs worst case based on multiple lenders, not just one.

Use our Calculators: Mortgage Calculators