The minimum salary needed to purchase a £300,000 property depends on deposit size and lender criteria. With a 10% deposit (£30,000), you would need to borrow £270,000. Based on typical income multiples of four to 4.5 times income, this could require household earnings between £60,000 and £68,000.
Lenders also assess monthly commitments, spending habits and stress test affordability against higher interest rates. A larger deposit reduces borrowing and may lower the required income threshold.
Joint applicants can combine income, making this level of purchase more achievable. A personalised affordability review gives clearer guidance than relying solely on general salary estimates.
Your home may be repossessed if you do not keep up repayments on your mortgage.