Yes — but you’ll need to be smart with lenders, schemes, and affordability.
Earning less than the UK average doesn’t mean you can’t get a mortgage. In fact, many people on modest incomes are approved every day.
The key is proving you can afford the repayments, understanding how much you could borrow, and choosing the right support along the way.
💷 What Counts as ‘Low Income’?
There’s no official definition — but if your annual income is below £25,000, many lenders may class you as a lower-income applicant.
That said, it’s all about affordability. If your monthly outgoings are low, you may still qualify for a decent mortgage.
🏠 How Much Can I Borrow on a Low Income?
Most lenders cap borrowing at 4 to 4.5 times your income — but this varies. So, if you earn £20,000 per year, you could borrow £80,000 to £90,000 (in theory).
But they’ll also consider:
- Existing debts or credit commitments
- Childcare or maintenance costs
- Utility bills and living expenses
- Your credit score
🧠 How to Improve Your Chances
✅ Use a specialist mortgage broker
✅ Save as large a deposit as possible
✅ Reduce your debts and regular outgoings
✅ Check your credit report for any issues
✅ Consider government schemes or guarantor options
🧾 Are There Mortgage Schemes That Can Help?
Yes! You might qualify for support like:
- Shared Ownership — buy part of the home, rent the rest
- First Homes — discounted new-build homes for key workers and locals
- Joint Borrower, Sole Proprietor — use a family member’s income to boost your application
- Guarantor Mortgages — someone else guarantees the loan
A broker can help match you with the most suitable option.
💬 Let’s Find a Mortgage That Works for Your Budget
Earning less doesn’t mean you have fewer dreams — you just need a more tailored approach. I’ll help you explore all the options available and find a lender that fits.
✅ Understand your borrowing power
✅ Compare mortgage options for low income
✅ Explore schemes that make homeownership possible