Do I Need Planning Permission For A House In Multiple Occupations (Hmo)?

Buying a house can be one of the most exciting and important investments you make in your lifetime. But with so many hurdles to overcome, including finding the right mortgage for your needs, it’s no wonder many people struggle to get their dream home. In the blog, we explore whether you can get a mortgage for 5 or 6 times your salary and look at some of the other factors that come into play when applying for a loan.

To qualify for a mortgage, lenders will typically require that your debt-to-income ratio (DTI) is no more than 43%. This means that your monthly mortgage payments, including principal, interest, taxes, and insurance, should be no more than 43% of your gross monthly income.

However, there are some exceptions to this rule. If you have strong credit and a low DTI, some lenders may be willing to approve a loan amount that is up to 50% of your salary. And in some cases, even higher.


Factors That Affect Your Mortgage Application

There are a few things that affect your mortgage application. The first is your debt-to-income ratio, which is how much of your income goes toward debt payments each month. Lenders want to see that you have enough income to cover your mortgage payment, as well as any other debts you may have. Another factor is your credit score; which lenders use to determine your creditworthiness. Finally, the amount of money you have for a down payment can also affect your mortgage application. If you have a higher down payment, you may be able to get a lower interest rate on your loan.


Can I Get a Mortgage for 5 or 6 Times My Salary?

It’s a common question our clients asked – can I get a mortgage for 5 or 6 times my salary? The simple answer is yes, you can. Most people can qualify for a mortgage that is up to 4.5 times their annual income. However, there are a few things to keep in mind if you’re looking to get a mortgage that is 5 or 6 times your salary.

First and foremost, the higher your income, the more likely you are to qualify for a mortgage that is 5 or 6 times your salary. Lenders will want to see that you have a steady income and can make your monthly mortgage payments on time. They’ll also want to see that you have other assets, such as savings or investments, which can help offset the risk of lending you such a large amount of money.

Another thing to keep in mind is that the interest rate on your mortgage will be higher if you borrow more than 4 times your salary. This is because lenders view borrowers who are securing more than 4 times their salary as high-risk borrowers. As such, they charge a higher interest rate to offset the risk of lending money to these borrowers.

Lastly, it’s important to remember that just because you can qualify for a mortgage that is 5 or 6 times your salary doesn’t mean that you should necessarily borrow this much money. You should only borrow what you feel comfortable with and what you know you can


Pros of Taking Out a Large Mortgage

  • You may be able to get a lower interest rate. 
  • You can lock in a low monthly payment. 
  • It can help you build equity faster. 

CONS of Taking Out a Large Mortgage

  • You may end up paying more in interest over the life of the loan. 
  • You could be putting your home at risk if you can’t make your payments. 
  • Your monthly payments could become unaffordable if interest rates rise or your income falls.



In conclusion, it is possible to get a mortgage for up to 5 or 6 times your salary. However, certain criteria must be met to do so, including having a sufficient credit score and being able to prove that you can make the monthly payments on the loan. It’s important to remember that this type of loan should only be considered if you have good financial management skills as it will require more money in the long run than taking out a smaller loan with better interest rates. By contacting a professional financial broker, you’ll ensure you get the best deal possible.