What Salary Do I Need for a £400,000 Mortgage?
You typically need a salary of £67,000 to £89,000 for a £400,000 mortgage in the UK. Best-case at a 6.5× lender (HSBC Premier) is around £61,600; affordability-led 4.49× lenders need £89,100. Joint applicants or higher-multiple products can bring the single-earner bar down considerably, subject to lender criteria, affordability and credit assessment.
Minimum Salary for a £400,000 Mortgage by Lender
Single employed applicant, 25-year repayment term, no additional debts.
| Lender | Multiple | Min Salary |
|---|---|---|
| HSBC Premier | 6.5× | £61,600 |
| Nationwide (Helping Hand) | 6.0× | £66,700 |
| Barclays | 6.0× | £66,700 |
| NatWest (higher income) | 6.0× | £66,700 |
| Leeds BS (Income Plus) | 6.0× | £66,700 |
| Aldermore | 6.0× | £66,700 |
| Cumberland BS | 6.0× | £66,700 |
| Halifax | 5.5× | £72,800 |
| Santander | 5.5× | £72,800 |
| TSB | 5.5× | £72,800 |
| Skipton BS | 5.5× | £72,800 |
| Virgin Money | 5.5× | £72,800 |
| Principality BS | 5.5× | £72,800 |
| Accord Mortgages | 5.5× | £72,800 |
| Coventry BS (affordability-led) | 4.49× | £89,100 |
| Pepper Money (affordability-led) | 4.49× | £89,100 |
Published income multiples, June 2026. Higher-multiple products subject to qualifying criteria.
How to Qualify for £400k on a Lower Salary
- Declare bonuses, overtime and commission. A £70k base + £15k annual bonus puts you comfortably over the 5× threshold.
- Add a second applicant — £50k + £35k hits £85k combined and qualifies at most lenders.
- Use a higher-multiple product. Halifax, Santander, TSB and Accord lend up to 5.5× at qualifying income — dropping the single-earner bar to around £72,800 — while Nationwide (Helping Hand), Barclays, NatWest and Leeds BS reach 6.0× (about £66,700).
- Extend the term to 35 or 40 years (some lenders). Longer terms reduce the stressed payment, increasing maximum borrowing.
- Clear outstanding debts — every £100/month commitment cuts borrowing by £6,000–£10,000.
£400,000 Mortgage Monthly Repayments
| Rate | 25 Years | 30 Years | 35 Years |
|---|---|---|---|
| 4.0% | £2,111 | £1,910 | £1,771 |
| 4.5% | £2,223 | £2,027 | £1,893 |
| 5.0% | £2,338 | £2,147 | £2,019 |
| 5.5% | £2,456 | £2,271 | £2,148 |
| 6.0% | £2,577 | £2,398 | £2,281 |
Deposit Needed for a £400,000 Mortgage
| Deposit % | Deposit £ | Property Price |
|---|---|---|
| 5% | £21,053 | £421,053 |
| 10% | £44,444 | £444,444 |
| 15% | £70,588 | £470,588 |
| 20% | £100,000 | £500,000 |
| 25% | £133,333 | £533,333 |
Self-Employed or Limited Company Director?
- Sole trader — net profit from your SA302. Most lenders average 2 years; some use latest year if higher.
- Limited company director — Halifax, Clydesdale and Kensington use salary plus retained profit, which typically shows a much higher income than salary + dividends. Critical at the £400k+ tier.
- Contractor on a day rate — day rate × 5 × 46 weeks. A £750/day contractor is assessed at £172,500, easily supporting £400k.
What Could Stop You Hitting £400,000?
- Dependent children — each reduces borrowing by £8,000–£15,000.
- Credit card balances — 3% of balance treated as monthly. £15,000 of balances ≈ £45,000 less borrowing.
- Car finance — £500/month PCP = £30,000–£40,000 less borrowing.
- Student loans — especially PG loans, which scale with income above higher thresholds.
- LTI flow caps — regulators limit the share of lending above 4.49× income multiples, so even after the 2025 relaxation, high-multiple products can have waiting lists in busy quarters.
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