Return to the Mortgage Glossary Home to view explanations for all mortgage terms. What follows is the definition for the term Income Multiples as it relates to mortgages in the UK. Income MultiplesWhen deciding how much money a mortgage lender can lend, they will often use income multiples to determine maximum amounts. Income multiples are simply a number representing how many multiples of your salary a lender will lend. e.g. A lender prepared to loan against an income multiple of 4 to someone earning £50,000 will be prepared to lend them £200,00. When making joint applications for a mortage (i.e. for couples) then, the income multiples will either be lower (typically 2.5 times the joint salary) or you will be able to borrow a higher rate against the higher salary (typically 3.5 times) plus the lower salary Different mortgage lenders work on different multiples, so it is worth investigating
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