Buying a home is one of the biggest financial decisions you’ll ever make — and understanding the true cost of a mortgage in the UK is essential before you start.
In this guide, we break down everything you need to know, including how much you can borrow, what salary you need, mortgage rates, and all the hidden costs involved.
Whether you’re a first-time buyer or remortgaging, this page will help you understand exactly what to expect in 2026.
QUICK ANSWER
- Most UK buyers can borrow 4–4.5x their annual salary
- Mortgage rates in 2026 are around 5%–6%
- A typical deposit is 5%–10% (minimum), but 10%+ gets better rates
- Total buying costs can add £3,000–£10,000+ on top
HOW MUCH CAN YOU BORROW
Short intro:
Lenders base your borrowing on income, debts, and credit history. Use our guide to see realistic figures based on your situation.
WHAT SALARY DO YOU NEED
Short intro:
A £250,000 mortgage typically requires a household income of around £55,000–£65,000 depending on your deposit and expenses.
FULL COST OF A MORTGAGE
Bullet list:
- Arrangement fees (£0–£2,000)
- Solicitor fees (£800–£1,500)
- Survey costs (£300–£1,500)
- Stamp Duty (if applicable)
MORTGAGE RATE PREDICTIONS
Short intro:
Mortgage rates are changing rapidly — understanding where they’re heading could save you thousands.
MORTGAGE TYPES EXPLAINED
- Repayment vs Interest-Only
- Tracker mortgage
COMMON PROBLEMS
- Bad credit mortgages
- What gets you declined
- Gambling and mortgages
USING A MORTGAGE BROKER
- Questions to ask a broker
- Should you use multiple brokers
Before applying for a mortgage, make sure you understand all the costs involved. Explore the guides above to avoid costly mistakes and get the best deal possible.