What salary do I need to buy a £400,000 house?
To buy a £400,000 house with a 10% (£40,000) deposit, you borrow £360,000. At the common 4.5× income multiple you'd need about £80,000 of income — or £72,000 between two applicants at 5×.
How this is calculated
- ·10% deposit (£40,000)
- ·£360,000 borrowed
- ·4.5× income multiple (standard)
- ·Joint applications can combine incomes
Income needed for a £400,000 house by deposit & multiple
| Scenario | Income needed |
|---|---|
| 10% deposit, 4.5× | £80,000 |
| 10% deposit, 5× | £72,000 |
| 20% deposit, 4.5× | £71,000 |
| 20% deposit, 5× | £64,000 |
Frequently Asked Questions
Can two people combine salaries?
Yes — most lenders add both applicants' incomes, so two people earning £40,000 each can often borrow as much as one person on £80,000.
What if I have a bigger deposit?
A larger deposit means a smaller loan and lower income requirement, plus access to lower interest rates at better loan-to-value bands.
Do lenders only look at income?
No. Affordability checks include your outgoings, debts, dependents and credit history, not just the income multiple.
M Singh CeMAP DipFA · 25+ Years UK Financial Services
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M Singh CeMAP DipFA · 25+ Years UK Financial Services
Important Information
This calculator is for informational purposes only and does not constitute financial advice or a personal recommendation.
Results are estimates based on the information you provide and may not reflect your actual financial position.
You should consider seeking independent professional advice tailored to your specific circumstances before making any financial decision.