A £250,000 mortgage is a mid-range loan size in the UK housing market. Your monthly costs depend on the interest rate, mortgage term, and repayment type. Most lenders require a household income of at least £45,000 to qualify.
£250k Mortgage Monthly Repayments
Your monthly payment depends on the interest rate and term you choose. Here's what to expect on a £250k repayment mortgage:
| Interest Rate | 25 Years | 30 Years | 35 Years |
|---|---|---|---|
| 3.5% | £1,251 | £1,123 | £1,033 |
| 4.0% | £1,320 | £1,194 | £1,107 |
| 4.5% | £1,390 | £1,267 | £1,184 |
| 5.0% | £1,462 | £1,342 | £1,263 |
| 5.5% | £1,535 | £1,420 | £1,343 |
Check our guide on what counts as a good rate in 2026. Making overpayments can significantly reduce total interest and shorten your term.
Salary Needed
Lenders assess affordability using income multiples. Joint applicants can combine both salaries.
| Multiple | Salary |
|---|---|
| 4× | £62,500 |
| 4.5× | £55,556 |
| 5× | £50,000 |
| 5.5× | £45,455 |
If you're self-employed or a contractor, specialist lenders may use day-rate calculations to boost borrowing. See the full salary calculator.
Deposit & Costs
A 10% deposit on a £278k property is £27,800. Moving from 90% to 85% LTV can cut your rate by 0.3–0.5%. First-time buyers pay no stamp duty up to £300,000.
Don't forget to budget for mortgage fees, conveyancing, and a property survey.
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Frequently Asked Questions
- How much is a £250k mortgage per month?
- At 4.5% over 25 years: ~£1,390/month. At 4.0%: ~£1,320. At 5.0%: ~£1,462.
- What salary do I need for a £250k mortgage?
- At 4× income: £62,500. At 5× income: £50,000. Joint applicants can combine salaries.
- Can a couple on £50k combined get a £250k mortgage?
- Yes — at 5× joint income, £50k would give exactly £250k. Many mainstream lenders support this.
Sources & References
- Mortgage calculator — MoneyHelper
- UK house price data — ONS
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