Mortgages for high-earning first-time buyers in the UK

As a high-income first-time buyer, you’re in a strong position to be able to access a range of mortgage options. While affordability might not be a barrier, securing the right mortgage product that works in your favour is essential. Here we explore different options and how working with a broker can give you a significant advantage.

Understanding income multiples

High earners often benefit from higher income multiples, allowing you to borrow more. While many lenders cap borrowing at 4.5x income, some specialist lenders and high street banks offer up to 5.5x or even 6x income – but only for those with strong credit profiles and low existing commitments.

Different types of mortgages

High-earning first-time buyers in the UK have several mortgage options to consider, including repayment, interest-only and part & part mortgages.

A repayment mortgage is the most common type of mortgage, with monthly payments covering both interest and capital, ensuring the loan is fully paid off by the end of the term.

Interest-only mortgages offer lower monthly payments, but the capital remains unpaid unless you have a credible repayment plan.

Part & part mortgages combine both structures, allowing partial repayment of capital alongside interest-only, offering greater flexibility.

Choosing the right mortgage type depends on your income structure, long-term goals and affordability — speaking with a mortgage broker can help you find the best fit.

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      Example Mortgage Comparison

£1,000,000 property | £250,000 deposit | £750,000 mortgage 5-year fixed rate 4% | 25 year mortgage term

Lender options

Some lenders tailor products specifically for high-income buyers:

• Nationwide is known for its favourable treatment of first-time buyers and offers generous income multiples.

• Barclays and HSBC may offer higher borrowing limits for professionals such as lawyers, doctors, or accountants.

• Specialist lenders may assess affordability using different criteria, such as projected bonuses or other income streams.

  
  

The advantage of using a broker

A broker’s expertise is invaluable in accessing high-income products that are not always available directly to consumers. We know which lenders offer the most favourable terms for buyers in your situation and how to structure your application for the best chance of approval.

At Your Mortgage Room, we support you through the entire process from start to finish and can recommend a range of professional services that we trust.

Things to consider

• Affordability assessments: Lenders will still assess your regular expenditure, debts, and lifestyle costs.

• Deposit levels: Larger incomes often go hand-in-hand with larger deposits, which may open access to better rates.

• Overstretching: Just because you can borrow more doesn’t mean you should. Your broker should look to support you in planning for your long-term financial goals.

Ready to explore your mortgage options? Contact our team today for a tailored consultation and get one step closer to owning your first home.