A £150,000 mortgage is a common loan size for first-time buyers and those purchasing in more affordable UK regions. Monthly repayments depend on the interest rate, term length, and whether you choose a repayment or interest-only mortgage.
£150k Mortgage Monthly Repayments
Monthly repayments on a £150,000 mortgage at various rates and terms. The rate you secure depends on your loan-to-value ratio and credit profile — see our guide on what counts as a good rate in 2026.
| Interest Rate | 25 Years | 30 Years | 35 Years |
|---|---|---|---|
| 3.5% | £751 | £674 | £620 |
| 4.0% | £792 | £716 | £664 |
| 4.5% | £834 | £760 | £710 |
| 5.0% | £877 | £806 | £758 |
| 5.5% | £921 | £852 | £806 |
These figures are for fixed-rate repayment mortgages. Interest-only payments would be lower but you'd need a plan to repay the capital. You can also reduce total interest by making mortgage overpayments.
Salary Needed for a £150k Mortgage
Most UK lenders use an income multiple of 4–4.5×. See our full mortgage affordability guide for how lenders assess your borrowing power.
| Income Multiple | Salary Needed |
|---|---|
| 4× income | £37,500 |
| 4.5× income | £33,333 |
| 5× income | £30,000 |
| 5.5× income | £27,273 |
Joint applications combine both salaries. A couple earning £20k and £15k could access a £150k+ mortgage with the right lender. If you're self-employed, some lenders use day-rate calculations that can increase borrowing power. See our salary calculator for detailed tables.
Deposit Requirements
Your deposit size directly affects the rates available to you. A 10% deposit on a £167k property is £16,700. The competitive rates kick in at 75% LTV (25% deposit) — see our LTV guide for details.
If you're a first-time buyer, you'll pay no stamp duty on properties up to £300,000. Shared ownership and gifted deposits can also help you get on the ladder sooner.
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Frequently Asked Questions
- How much is a £150k mortgage per month?
- At 4.5% over 25 years, approximately £834/month. At 4.0% it's £792, at 5.0% it's £877.
- What salary do I need for a £150k mortgage?
- At 4× income you'd need £37,500. At 5.5× income, you'd need £27,273.
- Can I get a £150k mortgage on a £30k salary?
- Yes — at 5× income, some lenders would offer £150k. A broker can find which lenders offer the best multiples.
- How much deposit for a £150k mortgage?
- On a £167k property with 10% deposit: £16,700. With 5% deposit: £8,350.
Sources & References
- Mortgage calculator — MoneyHelper
- UK house price data — ONS
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