Mortgages Costing £2,000 Per Month

How much could you borrow on a mortgage with a £2,000 monthly repayment? This guide considers some crucial eligibility rules and how income multiples come into play.

About your mortgage

Error: Yearly income income must be between £1 and £10,000,000.

Error: Regular bonus must be between £1 and £10,000,000.

Based on your yearly income, you may be able to borrow:


Most lenders will let you borrow 4.5 times your annual salary so, as long as you have a standard 10% deposit, you should be able to borrow this much.


Depending on your personal circumstances, some lenders may let you borrow 5 times your salary.


Lenders usually cap the amount they lend at 5.5 times your salary, so it’s unlikely you’ll be able to borrow more than this.

This calculator is an estimation of how much you could borrow. If you’re ready to take out a mortgage, speak to a Revolution brokers to see what options are available.

Mortgages Costing £2,000 Per Month

If you have a £2,000 budget to spend on a mortgage each month, you'll want to know what value property you can start searching for!

The complication is that a lender will need to know more than merely what budget you have - and while a high income makes it much easier to find competitive rates, there are other conditions to consider.

Let's look at what sort of mortgage you can get for £2,000 per month, and how eligibility works. For more information about finding your ideal mortgage, give us a call on 0330 304 3040, or email the team at

What Property Value Can I Buy for a £2,000 a Month Mortgage?

Generally, mortgage lenders will offer up to 4.5 times your annual income. For example, if you earn £60,000 a year, you can usually get a mortgage of £240,000.

If you have a £2,000 budget per month, solely for the mortgage, you can therefore usually get between £100,800 and £151,200 in mortgage lending depending on the terms and rates.

For a sole applicant, if you have a clean credit history, you might be able to borrow more, up to around £180,000.

How Does the Mortgage Term Impact How Much I Can Borrow?

The longer the mortgage term, the more time you have to pay back the loan and the lower the monthly repayments.

That does mean that over the lifetime of the mortgage, you will pay more in interest.

Choosing a longer term can make a mortgage more affordable, but will cost more overall.

What Mortgage Can I Afford if I Earn £2,000 a Month?

If you earn around £31,000 per year, you'll have somewhere around £2,000 net income each month.

On that salary, you can usually get a mortgage of between £139,500 and £186,000 depending on the lender you choose, and what multiplier they use to come to a maximum loan value.

What are the Eligibility Criteria for a Mortgage ay £2,000 a Month?

Lenders will assess several criteria aside from your income:

  • Employment - you'll need to show how you earn your money through PAYE employment or self-employment.
  • Outgoings - lenders need to know what other debts or dependents you have and see your regular outgoings to determine affordability.
  • Application basis - if you're applying for a joint mortgage, the lender will also incorporate your partner's salary into their calculations.
  • Credit rating - the better your credit score and clearer your credit file, the better mortgage rates you are likely to be offered.

What Proof Does a Mortgage Lender Need of £2,000 a Month Income?

You can prove your income in several ways, and will usually need to provide, as a minimum:

  • A P60 or contract of employment.
  • Three months of payslips.
  • A form of official photo ID.
  • Three to six months of bank statements.

For a £2,000 a Month Mortgage, what Loan to Value Ratio Can I Get?

The loan to value ratio (i.e. what you're borrowing against the property's value) is about the deposit you have available, and what the property is valued at - not your income.

Most lenders will need at least a 5% or 10% deposit.

Where there are other factors such as being nearer to retirement age or having bad credit, you might need a higher deposit and be offered a lower LTV cap.

Expert Support with UK £2,000 a Month Mortgages?

Do you want to know what mortgage you can get for your net income, or what house you can afford on your budget?

Give the business loan broker team a call on 0330 304 3040, or email us on for independent, confidential advice from a whole-of-market broker.

Why Revolution Brokers?
  • Whole of market brokers

  • Mortgage that suits you

  • On time customer support

Further Reading

Latest Blogs

10 Feb 2022
Do I Qualify for First-Time Buyer Status?

Do I Qualify for First-Time Buyer Status? Working out whether or not you are a first time buyer may seem obvious - but there are plenty of scenarios where your position isn't clear! Examples might include: New buyers who have inherited a property they rent out. Buy-to-let investors that have never purchased a residential hom..

26 Jan 2022
How Does a Remortgage Application Work?

Most homeowners know that remortgaging means switching a mortgage from an existing lender over to a new deal. However, the process isn't always obvious. If you're on a fixed-rate deal, you'll want to get ahead of the end of the term to avoid being shuffled onto a higher standard variable rate where your interest costs will undoubtedly ..

17 Dec 2021
Understanding Lender Risk on First-Time Buyer Mortgages

Finding a great mortgage as a first time buyer can feel like an uphill struggle, with a larger proportion of applicants being turned down than a year ago. Around 20% of first-time mortgage applicants are rejected, usually because of the lender risk associated with their loan. Today, Revolution Brokers explains the highest risk facto..

28 Oct 2021
Pros and Cons of First Time Buyer Buy to Let Mortgages

Investing in a rental property can be an excellent way to get onto the property ladder and earn an income. However, if you haven't owned a residence before, you might find that a mainstream bank will automatically turn you down for a buy to let mortgage. In today's guide, the Revolution Brokers team explains how you can become a ren..

12 Oct 2021
Mortgage Deposit Requirements for First-Time Buyers

Buying a home for the first time is a massive step - but the deposit is often a stumbling block for first-time buyers. It can take years to save a sufficient amount or be impossible, so there are several ways to approach the problem and get your foot onto the property ladder. From April 2021, the UK government launched the new mortg..

24 Jun 2021
Why Property Auction Finance is Booming!

There is little doubt that UK buyer confidence is at an all-time high. We've recapped previously in our blogs how property market growth and prices have soared over the last few months! As we head into summer, one key area of mortgage finance seems to be expanding rapidly: property auction finance. In this article, the Revolution..


Refer, Relax and get £50

If you refer a friend for a mortgage or any
type of finance you’ll both receive £25
each when their new application
successfully completes.

Know More!

We are proud
members of the:

FCA disclaimer

The content included in our articles, blogs, web pages and news publications is based on information accurate at the time of writing. Note that policies and criteria can change regularly throughout the UK mortgage lending market, and it remains essential to contact the consultation team to receive up to date guidance. The information included on the Revolution Brokers site is not bespoke to any circumstances or individual application scenarios and therefore is not intended to be used as financial advice. The content we share is designed to be informative and helpful but cannot be relied upon to provide individual advice relevant to your mortgage requirements. All Revolution team members are fully qualified, trained and experienced to provide mortgage advice of an independent nature. We collaborate with lenders and providers who are regulated, authorised and registered with the Financial Conduct Authority (FCA). Should you require specific mortgage borrowing types, some products such as buy to let mortgages may not be FCA regulated. The Revolution team can provide further information about regulated and unregulated lending as required. Please remember that a mortgage is a debt which is secured against your home or property. Your home can be at risk of repossession if you do not keep up with the repayments or encounter any other difficulties in managing your mortgage borrowing responsibly. This also applies to any remortgage or home loan secured against your property, including equity release products.

Ask the Mortgage Experts

Revolution Brokers understands that mortgages can be complex and confusing!

Ask us any question you might have, and one of our skilled consultants will come back to you as quickly as possible.