Auction-Finance logo
Call us anytime

How Much Can I Borrow Calculator

How Much Can I Borrow? - Mortgage Calculator

How Much Can I Borrow?

Get an instant estimate of your mortgage borrowing potential

Applicant Information

Additional Information

Your Potential Borrowing

Important: This calculator provides an estimate only. Actual borrowing amounts depend on individual circumstances, lender criteria, and affordability assessments. Mortgage approval is subject to status and credit checks. Different lenders have varying criteria and may offer different amounts.

Mortgage Affordability Calculator & Flexible Borrowing Options

Understanding how much you can borrow is the crucial first step in your property journey. At Auction Finance (via Mortgage Knight Ltd), our mortgage affordability calculator is designed to give you an immediate estimate of your borrowing capacity—and our team will then help you explore flexible options beyond the standard rules.

While many lenders apply standard income multiples of around 4.75× to 5× your annual earnings, a select number may go higher or apply more flexible criteria. These may include: high day-rate contractors, locums averaging recent earnings, self-employed 1-year accounts, non-sterling income, or overseas nationals resident in the UK.

How Our Affordability Calculator Works

  • Enter your income, employment or business type, monthly commitments and deposit amount.
  • Our calculator uses standard multiples (4.75×-5× income) to give you a baseline estimate.
  • We highlight scenarios where flexible borrowing options may apply (e.g., up to 6× income) if you meet the criteria.
  • Remember: this is an estimate only. Actual borrowing depends on full lender underwriting, credit check and other factors.

Why Flexible borrowing matters

High earners or strong credit profiles may secure borrowing up to 6× their income.
Self-employed individuals may be eligible with only one year of accounts or by using the latest year’s profit (rather than a two- or three-year average).
Contractors and locums may have their income annualised from day-rates (e.g., day-rate × 5 × 48 weeks) or recent 3-month earnings.
Non-standard income – e.g., overseas salary paid in foreign currency – can also be assessed by specialist lenders if your UK residency and tax position is suitable.

Factors That Affect Mortgage Repayments

Our calculator provides accurate estimates based on

Case Study 1 – High Earner / Standard Employment

Client: Jane, UK employed, salary £80,000 per annum.

Standard calculation: 5× income = £400,000 borrowing.

Flexible scenario: Lender allowed 6× = £480,000 borrowing due to strong credit score, clean history and minimal debts.

Result: Jane secured her dream home with confidence and knew her borrowing limit ahead of bids or offers.

Case Study 2 – Self-Employed – 1 Year Accounts

Client: Mark, self-employed business owner, 1 full year accounts with net profit £60,000.

Standard approach: Many lenders require 2-3 years’ accounts, so borrowing might be limited.

Flexible scenario: We found a lender willing to use his latest year’s profit and apply 4.75×-5× = £285,000-£300,000.

Result: Mark obtained an affordable mortgage and could proceed without further delay.

Case Study 3 – Contractor / Locum

Client: Sara, contract locum doctor, day-rate £350.

Annualised income calculation: £350 × 5 days × 48 weeks = £84,000.

Borrowing range: 4.75×-5× = approx £399,000-£420,000.

Result: Using our specialist knowledge in contractor income underwriting, Sara accessed a lender comfortable with annualised day-rates and secured her property.

0208 143 7779

Frequently Asked Questions

Yes — if you have a strong credit profile, stable income, minimal commitments and meet lender-specific flexible criteria, you may qualify for higher multiples or non-standard underwriting.
No — while high earners are often better placed, flexible underwriting is also available for self-employed, contractors, locums and overseas nationals, provided their documentation and income profile meets the lender’s criteria.
Borrowing at higher multiples increases your financial commitments and may require a larger repayment buffer. It’s vital to ensure you’re comfortable with the repayments, interest rate changes and the long-term affordability of your mortgage.
Maintain a strong credit score; reduce overall debt; show stable or improving income; keep business accounts organised and submitted; ensure any non-standard income is well documented; and work with a specialist broker to identify suitable lenders.
Absolutely. A broker who specialises in flexible borrowing options can guide you through the document requirements, identify lenders that match your income/employment type, and help avoid wasted applications and rejected offers.