According to customer data for purchase customers from Mojo Mortgages, this continues a trend of growth, with applications for over four times salary standing at 39.6% last year, rising from 29.7% in 2024.
The report noted that there were regional hotspots, with 52% of mortgage applications in Bristol being for four times salary.
This was followed by London at 49%, Coventry at 46%, Leicester at 45% and Manchester and Nottingham at 33% each.
| Year | Applications over four times salary |
| 2023 | 18.5% |
| 2024 | 29.7% |
| 2025 | 39.6% |
| 2026 (YTD) | 40.2% |
John Fraser-Tucker, Mojo Mortgages’ head of mortgages, said: “The fact that over half of applicants in Bristol are now looking for four times their salary or more isn’t just a statistical quirk; it’s a reflection of a market where wages simply haven’t kept pace with house price growth.
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“Even with recent cooling in some areas, the cumulative growth of property values over the last 3-5 years has been so considerable that the ‘traditional’ three times or four times multiple is, in many cases, no longer enough to get a foot in the door in some of these top-tier cities.”
The latest Office for National Statistics (ONS) figures show that the median gross annual earnings for full-time employees were £39,039 in 2025, up 4.3% on prior year figures.
However, there is regional variation, with Londoners earning nearly £50,000, whereas regions like the North East, West Midlands, and Yorkshire often see median salaries closer to £34,000-36,000.
Mojo Mortgages said the increase in high income multiple applications also showed a “psychological shift”, noting that some prospective buyers could compare their housing journeys to “curated, often unrealistic, portrayals of others’ lifestyles” so they may feel pressured to apply for homes at the “absolute ceiling of their affordability”.
Lenders have brought out more flexible products, such as professional mortgages or income stretch deals, but “caution remains vital”, the firm said.
Mojo Mortgages urged borrowers to go to a broker as they can assess the risk of pushing affordability, limit application rejections and help navigate the market.
Fraser-Tucker concludes: “While it is possible to secure a mortgage at a higher multiple, it’s not a guarantee. Caution is key. It is more important than ever to work with a broker who can navigate the nuances of lender criteria and ensure you aren’t over-leveraging yourself in a fast-moving market.”
