How much can I borrow for a remortgage?
How Much Can I Borrow to Remortgage? – A Clear Guide for Homeowners
Remortgaging is a powerful way to potentially release equity from your home, reduce monthly payments, or secure a better deal — but the first question most homeowners ask is:
How much can I borrow when I remortgage?
The short answer is: it depends on your income, existing mortgage commitments, outgoings, and the lender’s affordability checks. The good news is, if you understand how lenders calculate what you can borrow, you can prepare ahead and maximise your borrowing power.
How Lenders Decide How Much You Can Borrow
When you apply for a remortgage, lenders assess affordability based on a few key factors:
1. Income Multiples
Most UK mortgage lenders use a rule of thumb of around 4 to 4.5 times your annual income as a starting point for how much they can lend.
Some specialist lenders (or mortgage deals) allow higher multiples — as much as 5x, 5.5x or even 6x income — though these will depend on:
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Credit score and financial history
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Employment status and income stability
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Your existing mortgage balance and monthly outgoings
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Whether the remortgage includes additional borrowing for other purposes (e.g., home improvements)
2. Monthly Outgoings and Affordability Checks
Lenders don’t just look at income multiples — they also stress-test whether you can afford repayments at current and future interest rates. That means they will consider:
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Existing debts (loans, credit cards)
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Living costs (utilities, childcare, etc.)
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Monthly mortgage or other loan payments
Your remortgage application will be approved only if a lender believes you can comfortably sustain repayments.
Remortgage vs. Borrowing for a Purchase
While borrowing for remortgage uses similar principles as a purchase mortgage, remortgaging can include additional borrowing (also called capital raising) — which means you can borrow more than the balance of your existing mortgage if you have sufficient equity and affordability.
Income & Borrowing Guide (Illustrative Table)
Here’s a snapshot of how much you might be able to borrow based on different income levels and typical income multiples. These are illustrative and assume good credit, stable income, and typical lender policies:
| Annual Income | 4× Income | 5× Income | 5.5× Income | 6× Income | 6.5× Income |
|---|---|---|---|---|---|
| £60,000 | £240,000 | £300,000 | £330,000 | £360,000 | £390,000 |
| £75,000 | £300,000 | £375,000 | £412,500 | £450,000 | £487,500 |
| £100,000 | £400,000 | £500,000 | £550,000 | £600,000 | £650,000 |
| £125,000 | £500,000 | £625,000 | £687,500 | £750,000 | £812,500 |
| £150,000 | £600,000 | £750,000 | £825,000 | £900,000 | £975,000 |
| This table is illustrative — actual borrowing will depend heavily on lender criteria and affordability assessments. |
Example: What a £750,000 Mortgage Might Look Like
From Trinity Financial’s research on a £750,000 mortgage:
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Interest-only repayments at a representative fixed rate of ~3.55% could be around £2,218/month.
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Full repayment over 30 years at the same rate could be around £3,388/month.
These figures illustrate what a high borrowing amount can cost — and why affordability assessments matter. If you are remortgaging and borrowing more than your current balance, lenders will still run the same checks as they would on a purchase mortgage.
Can You Borrow More Than You Owe? Yes — If You Qualify
Remortgaging isn’t just about shifting your mortgage — it’s also an opportunity to raise additional funds:
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Home improvements
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Debt consolidation
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Education costs
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Purchasing a second property
As long as your new loan amount and repayments pass affordability tests, lenders can lend more than your current mortgage.
Tips to Maximise How Much You Could Borrow
✔ Improve your credit score before applying
✔ Reduce outstanding debts
✔ Provide proof of stable and high income
✔ Work with a broker to access more flexible lenders
Many homeowners find that speaking with a specialist broker — like Trinity Financial — helps unlock access to lenders offering higher income multiples and better interest rates than direct approaches alone.
Remortgaging can be a smart financial move — but how much you can borrow depends on a mix of income, outgoings, credit status and lender appetite.
Use affordability calculators as a starting point, but always consider professional advice to:
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Understand your true borrowing power
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Compare lenders across the market
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Secure the best products for your situation
If you’d like personalised help, a mortgage broker can assess your finances and guide you through the remortgage process from start to finish.
Call Trinity Financial on 020 7016 0790 to secure a remortgage, book a consultation, or complete our mortgage questionnaire.
The information contained within was correct at the time of publication but is subject to change.
Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage
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