When someone is looking to buy a property, they often wonder how much they'll be able to borrow. David Lauder, an Independent Mortgage and Protection Adviser with ESPC Mortgages, takes a look at some of the key factors mortgage lenders will take into account when deciding how much they will let you borrow. 


Historically, how much you were able to borrow was set by income multipliers of approximately three or three and a half times your income. Nowadays, there is a more common-sense approach where different lenders will lend different amounts, based upon on your individual circumstances.


Lenders will factor in how much deposit you are able to pay. The bigger the deposit, the lower risk you are and therefore you may be allowed to borrow a little extra because of the commitment you have shown with the level of deposit. 

Credit score

Your credit score, which is built up by your financial conduct, is also influential in determining how much you can borrow. Find out how to boost your credit score


Another key factor in assessing how much you are able to borrow is affordability; how much can you afford to pay on a monthly basis? This is based on your income minus your monthly commitments, such as regular loan repayments, car finance, credit card balances, maintenance and, for some providers, childcare costs may be factored in. All of these factors can then reduce your borrowing potential against someone with the same income who does not have these commitments as there is less surplus available for a mortgage repayment. They may also assess bank statements to see evidence of how you conduct your finances on a daily basis to get a flavour of your financial habits.

Get independent mortgage advice

No two cases are the same and different providers will assess your circumstances in different ways to decide how much they will lend you. Work with independent mortgage brokers who have the knowledge to analyse and advise which providers will look most favourably at your circumstances, but also ensure that any mortgage commitment is affordable so that not only are we helping you to buy a house, but also helping you to keep it.

ESPC Mortgages can help with all aspects of understanding your budget, applying for a mortgage and dealing with the relevant insurance requirements. Give them a call on 0131 253 2920. 

Mortgage calculator

Try out the ESPC Mortgage Calculator to get an idea of what you can afford to borrow and what your monthly repayments will be. 

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The information contained in this article is provided in good faith. Whilst every care has been taken in the preparation of the information, no responsibility is accepted for any errors which, despite our precautions, it may contain. No individual mortgage advice is given, nor intended to be given in 

The initial consultation with an adviser is free and without obligation. Thereafter, ESPC Mortgages charges for mortgage advice are usually £350 (£295 for first time buyers). YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED AGAINST IT.

ESPC (UK) Ltd is an Appointed Representative of Lyncombe Consultants Ltd which is authorised and regulated by the Financial Conduct Authority.