Know the cash you need
Separate your deposit from purchase costs and the reserve you want to keep.
£500,000 borrowing · A clear plan for your home
£500,000 mortgages
Buying a home or reviewing an existing loan? Start with the £500,000 you want to borrow, then bring the deposit, income, monthly budget and property into one clear picture.
One conversation to understand the property, the people and the plan.
Deposit & property price
What does a £500,000 mortgage buy?
The mortgage is the loan. Your deposit adds to it to make the purchase price, before costs.
For a fixed £500,000 loan, a larger deposit means a higher purchase budget and a lower loan-to-value (LTV). LTV is the loan divided by the property value, expressed as a percentage.
| Property price | Deposit | Mortgage | LTV |
|---|---|---|---|
| £600,000 | £100,000 | £500,000 | 83.3% |
| £625,000 | £125,000 | £500,000 | 80% |
| £750,000 | £250,000 | £500,000 | 66.7% |
Swipe the table sideways on a smaller screen. Arithmetic illustrations only; percentages rounded where needed. These are not mortgage products, minimum deposits or indications of eligibility. They assume the lender’s valuation equals the price and exclude fees added to the loan.
Keep taxes, legal work, surveys, moving costs and a cash reserve separate from the deposit. If the lender values a property below the agreed price, the funding gap needs a fresh look.
Explore the mortgage calculators ↗ · Understand a valuation shortfall ↗
Income & affordability
What income supports a £500k mortgage?
A headline salary or income multiple cannot answer the whole question.
Lenders consider accepted income alongside outgoings and their own criteria. Joint income can be relevant, but each applicant’s commitments also belong in the assessment. The mortgage term, credit history and property need to be considered together.
Start with basic pay, then separate bonuses, commission, overtime or business income. Explain what is regular, what varies and what has changed. This makes it easier to identify the evidence needed without assuming the highest recent earnings will be accepted.
List existing loans and mortgages, childcare or school fees, and other ongoing commitments. Your own comfortable payment matters alongside the lender’s assessment.
Explore complex income mortgages, company director mortgages or bonus and commission income where relevant. You can start a conversation before collecting a complete application file.
Repayments & the full cost
What would the monthly payment be?
The loan amount is only one part of the calculation.
The payment depends on the interest rate, mortgage term and repayment method. Use the mortgage repayment calculator to explore assumptions, including a higher rate. Calculator results are planning illustrations, not a quote or an assessment of affordability.
- Repayment: monthly payments cover interest and reduce the capital balance.
- Interest-only: the capital needs a separate repayment plan acceptable to the lender. A lower monthly payment does not make this suitable by itself.
- Term: spreading repayments over longer can reduce the monthly amount but increase total interest if other assumptions stay the same.
Compare product and adviser fees, any early repayment charge, flexibility and the balance remaining over the same period. Read the fees and service disclosure before deciding to proceed.
If you are reviewing an existing £500,000 mortgage, include the balance, rate end date, remaining term and current lender’s options. See remortgage planning.
Your first conversation
Bring the outline. Build the detail with Jack.
Use this checklist to organise your plans. You do not need every document before getting in touch.
0 of 6 points outlined
Ticks stay on this page and clear on reload. They are not sent to Jack and do not measure eligibility. Share financial documents only through the secure route agreed with Jack.
Talk through my £500k plansUseful answers
£500,000 mortgage questions
Clear starting points for the discussion, with the final options assessed for your circumstances.
Is a £500k mortgage the same as buying a £500k home?
No. A £500,000 mortgage is the amount borrowed. Buying a £500,000 home with a £100,000 deposit would instead mean a £400,000 mortgage, before any fees added to the loan.
What salary do I need for a £500,000 mortgage?
There is no single salary that guarantees a £500,000 mortgage. The assessment considers the income a lender accepts, any joint applicant, financial commitments, the term and the property. A simple income multiple is only a starting illustration, not a lending decision.
How much deposit do I need for a £500k mortgage?
The deposit depends on the property price and the loan-to-value the lender accepts for your circumstances. For example, a £625,000 purchase with a £125,000 deposit leaves £500,000 to borrow at 80% loan-to-value. This is arithmetic, not an available product or an approval threshold.
Can I remortgage a £500,000 balance?
A remortgage can be discussed using your current balance, estimated property value, income, existing deal and any early repayment charge. For example, a £500,000 balance on a property valued at £625,000 is 80% loan-to-value before fees. The lender’s valuation and affordability assessment still matter.
Can bonus or self-employed income be considered?
Explain each income source separately and how it can be evidenced. The treatment of bonuses, commission, dividends and business profits varies by lender and circumstances. Bring a clear outline of your earnings rather than assuming every pound will be accepted.
Do I need to be a private-banking client?
A £500,000 borrowing requirement does not by itself mean you need private banking. The useful starting point is the loan, property, income and repayment plan. Jack can discuss the routes available for your circumstances.
Sources and further reading
Primary sources checked 4 November 2026. General guidance does not establish a lender’s decision on your application.
Related mortgage guidance
Borrowing more, or planning something different?
For a wider borrowing requirement, explore large mortgages from £500k to £1m+. For a more involved income and asset position, see high-net-worth mortgage planning. If you live outside the UK, start with international UK mortgages.
Prepared for Jack Cousins, Head of Mortgages at Lockhart Murphy. About Jack · How this information is prepared.
Personal advice, directly with Jack
Let’s talk about your £500,000 mortgage.
Tell me whether you are buying, moving or remortgaging, the property value, your deposit or equity and when you want to proceed.
Start your £500k mortgage enquiry
The form opens in the residential mortgage category. Mention your £500,000 borrowing plans in the message.
Your home may be repossessed if you do not keep up repayments on your mortgage.
General information, not a lending decision or personal recommendation. All borrowing is subject to eligibility, affordability, valuation and lender assessment. Mortgage advice is provided through Mortgage Force (UK) Ltd. Content updated 4 November 2026.