Can a mortgage broker help me borrow more?

Author - Aidan Darrall Editor - Stuart Bowman

Last reviewed on 27th February 2025

In this article...

• Average mortgage value

• Can a mortgage broker get you a bigger mortgage?

• How much can I borrow for a mortgage?

• How to maximise your chance of borrowing more

• FAQs

Ultimately, your lender will decide how much you can borrow. They’ll look at your personal and financial circumstances to assess your affordability, which is basically your ability to repay a mortgage each month. 

A mortgage broker won’t be able to influence the loan amount you’re offered - but they’ll help you navigate the market to find a suitable mortgage product for your needs.

Let’s look at the average mortgage value

The average mortgage value for residential mortgages throughout the whole of 2024 was £198,210* - a 6.7% increase compared to the average mortgage value in 2023. 

With both first-time buyers and remortgagers increasing their borrowing year on year, it’s more important than ever for home buyers to understand how they can boost their chances of borrowing more.

Can a mortgage broker get you a bigger mortgage?

A broker won’t technically be able to get you a bigger mortgage as your mortgage provider will always make the final decision on how much they’ll be able to lend you. 

However, a mortgage advisor’s in-depth knowledge of the market really can come in handy as they’ll be able to compare thousands of mortgage products and recommend a suitable one for you. This could result in a broker finding you a bigger mortgage than you would if you were looking on your own. 

Here’s why…

Brokers have access to multiple lenders

Applying directly with one lender could limit your options, and trying to compare thousands of mortgage products across different lenders yourself is a near-impossible task. 

Here at Mojo Mortgages, our brokers are able to access thousands of deals from across 70+ lenders so we can swiftly find the option that best suits your borrowing requirements. 

Brokers bring in-depth knowledge to the table

All lenders have their own criteria and will calculate your affordability differently. Finding the lender that’s most likely to offer you a bigger mortgage requires time and expertise - that’s where your mortgage broker comes in. 

Mortgage advisors have an impressive knowledge of the lending market and stay up-to-date with lender criteria. They’ll recommend products you’re eligible for and guide you towards lenders that:

• Offer competitive rates, terms and loan amount

• Are most likely to accept you

• May potentially lend more to customers in similar circumstances

• May be more flexible to your financial situation 

You may find that lenders will be prepared to offer you more money depending on the terms of your mortgage, such as how long you fix your mortgage for. For example, certain lenders might offer you more money if you opt for a five-year fixed-rate mortgage versus a two-year fixed-rate mortgage. Your broker will be able to compare your options and recommend the best route forward. 

They’ll get to know you 

Mortgage brokers take the time to understand your personal and financial circumstances as well as your home buying goals. This helps them to find a mortgage product that’s tailored to your individual needs and affordability. 

What’s more, your broker will help to get your mortgage application in the best possible shape so you won’t waste time applying with lenders who are unlikely to accept you for the required level of funding. 

If necessary, your broker will also suggest ways to improve your credit score and affordability. This can help to give you the best chance of increasing your borrowing capacity and being accepted for the mortgage you need. 

For example, you may find that a seemingly small debt repayment could significantly impact what you can borrow so paying off the debt in full (if you can afford to do so) could be a good idea. A mortgage broker will be able to discuss strategies like this to help you improve your borrowing potential. 

Helps to navigate more complex financial situations 

Different lenders will have their own view on applicants with more complex financial situations, so you may find it helpful to have a mortgage broker on your side. 

For example, if you’re self-employed, your broker will help you understand how different lenders will calculate your income and what documents you’ll need to provide to prove your self-employed income during the application process.

Broker expertise can also come in handy if you’re a high earner or have a professional job (maybe you’re a doctor or solicitor). You may be able to borrow a higher multiple of your income, and working with a qualified mortgage advisor can help you to identify what you might be eligible for.

Brokers can arrange a mortgage in principle

A mortgage in principle (MIP), sometimes also known as an Agreement In Principle or Decision in Principle, gives you a realistic idea of how much you can afford to borrow. 

A MIP is a document that indicates how much a lender would be willing to lend on principle, helping you to focus your search on homes that are affordable to you. And, once you’ve found your dream home, having a MIP in hand could improve your chances of successfully making an offer as estate agents and sellers are much more likely to take your negotiations seriously. 

They could help you remortgage if you want to borrow more in the future

If you come to the end of your fixed-rate mortgage or simply want to change the mortgage deal on your current property, your broker will be able to help you find the best remortgage deals. 

This could mean remortgaging to borrow more, which can be complicated to navigate if you’re not experienced in the mortgage market.  

How much can I borrow for a mortgage?

Mortgage lenders will use their own set of criteria to decide how much they’ll let you borrow. This includes lots of things such as your loan size, deposit and credit history, but lenders will usually use a multiple of your income as a key factor when assessing your affordability. This is normally around 4 to 4.5 times your salary, but you could be offered a lower or higher multiple of your income depending on your personal circumstances and the lender’s criteria.

As an example, a borrower on an average UK salary of £37,430 could expect to borrow around £168,435 if offered a mortgage-to-income ratio of 4.5. 

You can use Mojo’s mortgage affordability calculator to get a rough idea of how much you could borrow. It takes into account your deposit and income to estimate the maximum property value you’ll be able to buy and the estimated monthly cost of your mortgage. 

Ask yourself ‘how much can I afford?’ rather than ‘how much can I borrow?’ 

Owning a home is one of life’s biggest financial commitments, so it’s important to consider whether you’ll be able to comfortably and confidently afford your mortgage repayments - both in the short term and long term - before opting for the maximum amount a lender will offer you. 

Consider all the expenses you’ll be responsible for on top of your monthly mortgage repayments such as day-to-day living costs, utility bills, insurance, maintenance costs and any unexpected expenses that could come out of the blue too. 

It’s so important to make sure you’re comfortable with the monthly cost of your mortgage, rather than stretching your budget to accept the maximum amount a lender will offer you. 

You should also consider future changes. After all, the average mortgage term is 30 years - and your finances will probably look very different by the end of it. Your personal circumstances are likely to change and interest rates could increase, too, so it’s a good idea to look ahead when considering whether to take the maximum amount you could borrow.  

Want to get a more accurate view of your borrowing power?

Speak to one of our mortgage brokers to get a better understanding of how much you could borrow, plus what rates, terms and types of mortgages could work for you.

How to maximise your chance of borrowing more

• Boost your credit score

Lenders want to make sure you’re a reliable borrower. If you can show you’ve repaid what you owe in the past then lenders are more likely to view your mortgage application favourably. It’s therefore a good idea to make sure your credit history is in good shape. 

Review your credit file regularly for any mistakes or inaccuracies. And, perhaps more importantly, keep up with any current monthly repayments – late or missed payments are likely to have a negative impact on your score.

• Improve your debt-to-income ratio

The more debt you currently have, the less you’ll be able to borrow - so it’s a good idea to reduce existing debt if you’re looking to improve your affordability. 

Your debt-to-income ratio is, essentially, what percentage of your income is going towards repaying debt. You can reduce your debt-to-income ratio by either paying down existing debt or boosting your income.

Top tip: Don’t apply for new credit in the run-up to getting a mortgage. Not only might each application result in a hard credit search, but it could also increase your debt-to-income ratio which could affect how much you can borrow. 

• Reduce your outgoings

Mortgage lenders won’t just look at your level of debt. They want to know all about your spending habits, too. They’ll also look at your other outgoings such as bills and living expenses to get an idea of how much disposable income you have. So, if possible, keep your outgoings to a minimum to show you’re a responsible spender.

• Show a stable income

You’ll need to provide proof of income to show that you earn what you say you earn. This is more straightforward for salaried employees, who’ll need to provide recent payslips and a P60. Self-employed applicants will need to do things a little differently, though. Depending on your employment type, you’ll need to provide between 12 and 36 months’ worth of certified accounts and your end of year tax calculations (SA302). Our guide goes into more detail on the documents you’ll need to provide when applying for a mortgage. 

Lenders appreciate job stability, so try to avoid moving jobs right before applying for a mortgage. This takes away any concern regarding your probation period and gives lenders extra reassurance that you won’t lose your job (which could, of course, impact your ability to pay your mortgage). 

• Extend your term

You could extend your term to lower your monthly payments, therefore potentially making it more affordable to borrow a larger amount. 

However, do keep in mind that the longer the mortgage term, the more interest you’ll pay overall. 

And if you don’t want to borrow more, buy savvy… 

Looking to buy a home without exceeding your lender’s mortgage-to-salary ratio? These three tips can help you reduce how much you need to borrow, making home ownership more accessible.

• Choose a more affordable location 

Where you buy really can make a difference. We analysed the average mortgage-to-salary ratio across UK towns and cities and, while we found that a third of cities exceed the 4.5 times mortgage-to-salary ratio for couples, there are still a range of more affordable locations for homebuyers on an average wage - with the North East coming out on top. 

• Boost your deposit

A higher deposit amount reduces how much money you need to borrow which, in turn, improves your mortgage-to-salary ratio and could make it easier for you to buy. 

Plus, applying for a lower loan-to-value mortgage could get you access to lower interest rates. 

• Consider shared ownership options

Shared ownership schemes allow you to buy a share of a property (usually between 10% and 75%) and pay rent on the remaining portion. You’ll have the option to buy more shares or even buy the property outright in the future. Shared ownership makes buying a home more accessible as it will likely reduce the amount you’ll need to borrow, thus improving your mortgage-to-salary ratio. 

*All data shown is from Mojo Mortgages' own customer records, covering the period from January 1, 2024, to December 31, 2024. Comparisons to the year before look at January 1, 2023 to December 31, 2023.