With interest rates on the up again I wouldn`t want to go for more than 3 times my salary. Remember that a jump from 5% to 6% is a TWENTY PERCENT increase [one fifth], not 1 percent.
I applied for a mortgage recently and the Halifax offered me 4.3 x my salary. Totally crazy as the repayments would have left me with little money to spend, but it's a good indication of the multiples that banks work with.
That`s the major problem these days....even a 20K salary won`t get a foot on the property ladder.
I think I`ve got problems and my mortgage is only 30K.