This is an interesting question because it can depend on a number of factors, not least where you live in the country and the type of property you are looking for. As a rough guide, the average mortgage lender will offer a loan based on a multiple of four and a half times your disposable income. This would mean that a couple earning the current living wage can expect to be eligible for a mortgage of around PS132,000.
Can I Buy a House With 10k Deposit UK?
However, if you are looking at purchasing a new-build home then it will likely take a higher multiple of your income and this could push the amount of money you are able to borrow beyond this level comerwicke fields. This is because new-build homes are often more expensive than their older counterparts and this pushes up the price of a deposit.
The good news is that there are a number of options for those who want to get on the property ladder without saving a huge deposit. These include guarantor mortgages where someone (usually a parent) will stand as additional security on the mortgage. This helps buyers to meet the affordability criteria for properties they may not otherwise be able to afford and also allows them to move into more desirable areas of the country.
If you are considering using a guarantor mortgage then it is worth speaking to a specialist broker who can give advice on the lenders available. Also, remember that there are a number of government schemes such as Help to Buy and shared ownership which can help with the cost of getting onto the property ladder.