Securing a mortgage in the UK requires passing strict Financial Conduct Authority (FCA) and Bank of England affordability stress tests.
The 4.5x Income Multiple Cap
Standard Maximum Borrowing Limit: 4.5 times your gross annual household income.
Formula: Single Borrower Income: £60,000 -> Max Mortgage: £60,000 * 4.5 = £270,000
Calculate your maximum home purchasing budget and monthly repayments with our free Mortgage Affordability Calculator.
Disclaimer: This article is for educational purposes only and does not constitute financial, legal, or medical advice. Consult a qualified professional for guidance specific to your situation.