Most lenders will allow first-time buyers to borrow around 4 to 4.5 times their annual income, depending on affordability.
For example, someone earning £30,000 may be able to borrow around £120,000–£135,000, while a joint income of £60,000 could allow borrowing of around £240,000–£270,000.
Lenders also consider monthly outgoings, credit history, existing debts, deposit size, and employment status, and a mortgage adviser can help estimate how much you may be able to borrow.
