Can I afford a £300k house on a £45k salary in the UK?
At 6.7 times your salary, £300k sits in the bracket where some lenders will say yes and others will not. The difference between approval and rejection often comes down to how much deposit you have and whether you have any outstanding credit commitments. A deposit of 20% or more materially changes what lenders are willing to offer.
This is significantly above standard lending criteria. Consider a lower price or increasing your salary.
Based on typical UK tax bands and lending criteria. This is an estimate, not financial advice.
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Your affordability
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Your affordability is broadly in line with the UK average
You are well-positioned to afford a home, rent, or car within the typical UK range. Small improvements to expenses or savings will open up more options.
Safe monthly disposable income
After expenses and debt, you have around £2,475 left each month — with a 10% buffer built in for unexpected costs. This is comfortable for most people at this income level.
Home you could realistically afford
Around £240k is a realistic target based on your salary, savings, and outgoings. Outside London, this budget typically goes further.
Most UK buyers with a similar income typically purchase between £211k and £269k
Recommended rent budget
Up to £1,313/month keeps your finances healthy based on the 30–35% income rule. Anything above this may start to feel like a stretch.
Car finance calculator
Most cars in the UK are purchased using finance (PCP or HP), where buyers pay a deposit and a fixed monthly cost. This estimate gives a realistic guide based on typical finance rates (~8% APR).
How much you can comfortably pay each month
£200–£350/month is a sensible range for most UK buyers. This is what many people on a typical salary comfortably spend on a car.
Most UK car buyers use PCP or HP finance — affordability is based on monthly payments, not total price.
Outside London, this budget typically goes further. In London and higher-cost areas, affordability is usually 15–25% lower than these figures suggest.
Why this calculator is different
Most calculators show the maximum you can borrow. This tool focuses on what you can comfortably afford — based on real UK salaries, actual expenses, and everyday spending patterns.
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Based on typical UK tax bands and lending criteria. This is an estimate, not financial advice.
What the numbers mean for you
Standard lending multiple: Most UK mortgage lenders will lend between 4 and 4.5 times your annual salary. On a salary of £45.0k, that translates to a maximum mortgage of roughly £180k to £203k.
The £300k property: This home is 6.7 times your annual salary. This exceeds the standard lending multiple. You will need either a significant deposit or to explore specialist lending options.
Deposit strategy: You will likely need a deposit of 20–25% or more to meet lender requirements.
Which lenders to approach: Specialist lenders or a dedicated mortgage broker will be important in finding a suitable deal.
Other factors that affect lending: Credit score, employment type, existing debts, number of dependants, and monthly expenditure all influence what you can borrow. Speaking to an independent mortgage broker gives you the clearest picture of your real options.
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A realistic buyer scenario
Aisha, 34 — marketing manager, Bristol
Aisha earns £45,000 and has £55,000 saved — partly from inheritance. She is buying solo and targeting a two-bedroom flat in Bedminster, Bristol, listed at £295,000. She has a credit card with a £2,000 balance she clears monthly.
Her maximum standard mortgage is £202,500. With a £55,000 deposit the mortgage required is £240,000 — still above the 4.5× cap but within 5.3×. A specialist lender targeting professionals with low outgoings approves her at 5.3×. Her repayment is £1,340/month — roughly 43% of her monthly take-home. Aisha decides to overpay the credit card before completion to remove it from her affordability assessment entirely.
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