How much can you actually borrow?
Most mortgage lenders cap what they'll lend at a multiple of your income — typically around 4.5×, sometimes 4× or up to 5× for strong applicants. Your borrowing plus your deposit sets the property price you can afford. This tool starts there, then shows the monthly payment so you can sanity-check it against your budget.
Why the multiple isn't the whole story
The income multiple is a ceiling, not a target. Lenders also run an affordability assessment on your actual outgoings — existing debts, childcare, credit commitments — and stress-test the payment against a higher rate to make sure you could still cope. Two people on the same salary can be offered very different amounts.
The monthly-payment reality check
A common guideline is to keep housing costs under about 28–35% of gross monthly income. Use the monthly payment below against that rule: if it's comfortably inside it, the borrowing is realistic; if it's stretching, borrow less than the maximum.
Does a bigger deposit help?
Yes — a larger deposit lowers the loan-to-value ratio, which usually unlocks lower interest rates and increases the price you can afford for the same monthly payment.
Is the income multiple guaranteed?
No. It's an estimate of a lender's cap. Your real offer depends on credit history, outgoings, the property and each lender's own affordability model.
More money calculators
This calculator gives a rough estimate using an income multiple and standard amortisation, and is for general information only — it is not financial or mortgage advice. Real lending depends on affordability checks, credit history, stress tests and lender criteria. Confirm with a mortgage adviser or lender. WorldTax is independent.