UK Mortgage Options at £200,000

What are the options for taking out a mortgage to buy a property for £200,000? Let's look at all the factors to obtain mortgage approval for your required value.

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.

UK Mortgage Options at £200,000

When you know what property you wish to buy and what sort of mortgage you need, it can be challenging to understand what salary you require to be considered eligible.

Each lender uses different criteria and calculation methods, so, unfortunately, no online calculator can give an accurate answer.

The Revolution Brokers team has put together this guide to explain how to qualify for a £200,000 mortgage, and what criteria a lender will look for.

If you'd like more detailed advice or help with finding a mortgage offer for £200,000, give us a call on 0330 304 3040, or email us at

What Salary Do I Need to be Eligible for a £200,000 Mortgage?

As we've mentioned, each lender is different, so there isn't a fixed income you need to be approved for a mortgage of £200,000.

The difficulty is that, say you earn £35,000; to achieve this level of borrowing you'd need a loan of six times your income, which isn't impossible but is rare.

Below you'll find some indicative figures showing four theoretical lenders, and how your mortgage limit might be significantly different depending on what income multiple you qualify for.


Lender A - 3 x Income

Lender B - 4 x Income

Lender C - 5 x Income

Lender D - 6 x Income









































What Difference Does My Income Make to My £200,000 Mortgage Approval?

Your salary or income makes a big difference since this calculation of a multiple of your annual income is the benchmark that a lender will initially refer to, to work out whether they are likely to approve your application.

It is also part of the debt to income ratio, which calculates how much you owe vs how much you earn, and is a key metric in an affordability assessment.

What are the Other Crucial Qualification Criteria for a £200,000 Mortgage?

Your income is essential, but by no means the only important factor in seeking approval for a £200,000 mortgage - lenders will also consider the below circumstances:

  • Type of employment - if you're in full time, permanent PAYE employment, the risk level to a lender is low. However, if you are self-employed, or a contractor, your pay is likely to be more variable and higher risk.
  • Deposit - the higher your deposit, the lower the Loan to Value ratio, and therefore the less the risk. In most cases, you will need a deposit of at least 15%, but the more you can offer, the better your interest rates and income multiples will be. There are mortgage products out there with deposit requirements from as little as 5%, but these are less common and usually more expensive.
  • Credit history - lenders all have a different attitude to bad credit. Some might disregard minor issues, whereas it could be a game-changer for others. The vital factor here is to work with an experienced broker who can assess your credit file and recommend the lenders who will be happy to consider your application.
  • Your age - some lenders have a cap of 75 or 85 on the age of a new applicant, or the age you will be when the mortgage term ends. Others have no upper limits, so it's essential to consult an independent broker who can select the right lenders to apply to.
  • Property type - another factor is the property you wish to mortgage. Unusual constructions, such as high rises, or homes with a thatched roof, are more specialist, and something often easiest to mortgage through a niche lender.
  • Buy to let - if you would like to mortgage a rental property, the affordability criteria usually revolve around the anticipated rental income from the property in question.
  • Second homes - likewise, a second home is a different proposal than a residential mortgage, and usually will require a higher deposit of at least 25%, and more rigorous affordability checks.

Expert Support with Affordability on a £200,000 Mortgage

If you need to borrow £200,000 to purchase your ideal property, or have been turned down for financing elsewhere, all is not lost!

An experienced, whole-of-market mortgage broker can recommend niche lenders and off-market deals to secure the borrowing you need at competitive rates.

Give us a call on 0330 304 3040 or email the team at for independent advice to get your application started.

Why Revolution Brokers?
  • Whole of market brokers

  • Mortgage that suits you

  • On time customer support

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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.

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