How to get a bigger mortgage

Key takeaways

• Standard limits: Most lenders offer 4 to 4.5x your annual income, but specialist lenders may stretch to 5x or 6x.
• Specialist schemes: Options like Income Boosts, Professional Mortgages, and Shared Ownership can significantly increase your buying power.
• Affordability factors: Beyond salary, lenders scrutinize your debt-to-income ratio, credit history, and monthly outgoings.
• Joint applications: Applying with a partner or friend is one of the fastest ways to increase a mortgage limit by combining incomes.
• Expert advice: A whole-of-market broker can access niche schemes not available on the high street to maximize your loan amount.

How lenders calculate your maximum mortgage

When you apply for a mortgage, most lenders will multiply your income by a set figure to determine how much to lend you. Most of the time, that figure’s 4 to 4.5, but some lenders will stretch to 5 or 6 times your salary if you meet certain criteria.

Lenders are also limited in how many mortgages they can offer above 4.5 times income, so even if you meet the criteria, these deals can be harder to access. A whole-of-market mortgage broker like Tembo can help you find lenders with availability.

If you’re buying with a partner, friend or family member, the lender will usually combine your incomes and multiply your joint income by their set figure, which can drastically increase your potential borrowing limit.

For example, if your chosen lender offers 4 to 4.5x income mortgages:

• Single applicant earning £30,000 → £120,000 – £135,000 mortgage
• Joint income of £55,000 → £220,000 – £247,000 mortgage

Lenders then perform an affordability assessment, checking:

• Your regular income and any additional income you receive
• Employment type (permanent, contract, or self-employed)
• Credit score and payment history
• Monthly spending and existing debts
• Pay deductions (student loan repayments, pension contributions)
• Deposit size
• Dependants or childcare costs
• Age and years to retirement

These checks help them decide whether you can comfortably afford repayments, even if interest rates rise or your circumstances change. On a larger mortgage, even a 1% to 2% rate rise could add hundreds of pounds to monthly repayments, so it’s important to make sure the loan feels genuinely comfortable, not just technically affordable.

Learn more: 5 money talks to have with your partner before buying a house together

How much could you increase your borrowing by?

With the right scheme, some buyers can increase their borrowing by tens of thousands of pounds and in some cases, over £100,000. It depends on your income, your deposit, and which schemes you qualify for. The table below shows some indicative examples:

How to qualify for a larger mortgage

The good news? There are several practical ways to boost your borrowing power and qualify for a larger mortgage. Here's a step-by-step approach to help you maximise what you can borrow.

1. Check your standard borrowing estimate

Use a mortgage affordability calculator to establish your baseline - typically 4 to 4.5 times your household income. This is your starting point, not your limit.

You might also like: Mortgage Tips For First-Time Buyers

2. Improve your affordability

If your estimated budget isn't quite where you need it to be, don't worry, there are some straightforward things you can do to help improve your mortgage affordability:

• Pay off debts: Reducing loan and credit card balances lowers your outgoings.
• Reduce your credit card limits: Even if you don't use them, lenders look at the total credit available to you. Lowering unused credit limits can improve how much they're willing to lend.
• Cut monthly expenses: Lenders analyse your spending, so trimming subscriptions or non-essentials can help.
• Increase your income: Even a small pay rise, promotion, or side income can make a noticeable difference.
• Check your credit report: Fix errors and make sure all bills are paid on time.

3. Identify which specialist schemes you may qualify for

If a standard mortgage isn't enough to get you on the ladder, it can be worth exploring specialist buying schemes, which could help boost your buying power.

Depending on your situation, you might qualify for:

• With family help: Income Boost or Deposit Boost.
• Without family help: Professional mortgages, key worker mortgages, or shared ownership.

Perfect For You: How To Talk To Your Family About Money and Inheritance

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4. Speak to a whole-of-market mortgage broker

A whole-of-market broker like Tembo can check your eligibility across the market - we search across 100+ lenders as well as over 20 specialist schemes. This is the most efficient way to find out your true maximum borrowing, not just what one lender will offer.

A broker can also advise on whether a joint mortgage could help boost borrowing, and explain the practical and legal considerations of buying with someone else.

5. Review your options and choose the right one for you

Your broker will present every scheme and deal you're eligible for, with a clear breakdown of what each means for your borrowing limit, monthly repayments, and overall cost. You can then choose the option that fits your situation.

Remember, the right mortgage isn't always the one with the highest borrowing amount. A slightly smaller loan with a lower interest rate or more manageable monthly repayments could leave you in a much stronger financial position long-term.

Can you get a mortgage for more than the purchase price?

In most cases, no, you can't borrow more than the property's value. Lenders stopped offering mortgages above 100% loan-to-value after the 2008 financial crisis. However, there are some ways to borrow up to 100% of the purchase price in certain circumstances.

However, you may be eligible for a 100% mortgage, a.k.a a No Deposit Mortgage, which lets you borrow the total purchase price in some circumstances.

Skipton’s Track Record Mortgage allows you to buy with no deposit if you meet these criteria:

• Proven track record of paying rent and bills for 12 consecutive months (within the last 18 months).
• A strong credit score.
• Must be over the age of 21.