UK affordability tool
Mortgage Readiness Check
A quick, hedged read on whether your payslip income may support the property you have in mind.
What a result looks like
£45k income, £25k deposit, £250k home: borrowing range £180k-£202k, LTV 90%, stress test ok.
What we check
- Income multiples 4.0x-4.5x.
- LTV bands.
- Stress at +3% rate against ~35% of net.
- Adjustments for monthly debts.
When to use this tool
- Before booking a viewing spree.
- Before committing to a deposit-saving plan.
- Before speaking to a broker.
What the result bands mean
Appears consistent
Within typical multiples and LTV.
Tight
Possible at some lenders - worth reviewing.
Outside
Bigger deposit or lower price likely needed.
Common mistakes
- Adding bonuses at face value (lenders often haircut).
- Ignoring car finance / 0% buy-now-pay-later debts.
- Forgetting Stamp Duty and fees.
Worked example
Joint income £80k, deposit £40k, property £320k.
Range: 4.0x-4.5x = £320k-£360k. Property £320k just within reach. LTV 87.5%.
Stress test: monthly at 8% on £280k 25-yr ≈ £2,160. Net joint ≈ £4,800/mo. 45% - over the 35% bar - worth reviewing with a broker.
Frequently asked questions
Are these the income multiples lenders use?
4.0-4.5x is typical for mainstream UK lenders. Some go to 5x or higher under specific schemes.
Does this guarantee I can borrow?
No. We are not regulated. Lenders apply their own affordability and credit checks.
What deposit do I need?
5% minimum for most schemes; 10-15% gets meaningfully better rates.
What is LTV?
Loan-to-value: loan ÷ property price. Lower LTV = lower risk = better rates.
What is the stress test?
Lenders model whether you could afford payments if rates rose. We use +3% as a proxy.
Sources
- FCA: Mortgage Conduct of Business sourcebook (MCOB).
- Bank of England: published affordability stress guidance.
Last verified: 2026-05-03.
Disclaimer: PayslipIQ is not a regulated mortgage adviser. Speak to an FCA-authorised broker for advice.