Borrowing
What house can I afford on a £45,000 salary?
On £45,000 a year, many lenders would lend around £202,500, which is 4.5 times your income. With a 5% deposit that reaches a home of about £213,000, or about £225,000 with 10% down.
| Deposit | Home | Monthly | Cash on day one |
|---|---|---|---|
| 5%£10,650 | £213,000 | £1,025 | £13,900 |
| 10%£22,500 | £225,000 | £1,026 | £25,800 |
| 15%£35,700 | £238,000 | £1,025 | £39,060 |
| 20%£50,600 | £253,000 | £1,026 | £54,010 |
Repayment mortgage at 4.5% over 30 years. Day one cash is the deposit plus fees, and Stamp Duty in England for a first-time buyer. Try your own rate and term
Against your take-home pay
£45,000 is about £2,993 a month after tax and National Insurance in England. The £1,026 mortgage with a 10% deposit would be about 34% of that, before bills and council tax.
Common questions
- How much can I borrow on £45,000?
- Many lenders lend around 4.5 times income, so about £202,500. Some go up to 5 times, about £225,000, for some buyers. Debts and other payments bring it down. Only a lender can say for sure.
- What would the mortgage cost a month?
- With a 10% deposit on about £225,000, a £202,500 repayment mortgage at 4.5% over 30 years is about £1,026 a month, before bills and council tax.
- How much cash do I need on day one?
- About £25,800 at that price with a 10% deposit: the £22,500 deposit plus legal fees, searches, a survey and moving. First-time buyers in England pay no Stamp Duty up to £300,000.
- What if I'm buying with someone?
- Lenders add your incomes together. Two people on £45,000 each is £90,000 between you, which reaches about £450,000 with a 10% deposit.
A guide, not a promise anyone will lend. Debts, other payments and your credit history change what a lender offers. Checked 2026-10-04.