Have you ever looked at the cheapest homes in the county and wondered what you would have to earn in order to buy them?

Luckily, Cumbria is home to some very affordable properties which are ideal for investors and first time buyers.

Tom Newcombe, mortgages spokesperson for MoneySuperMarket said there are many factors that impact the cost of mortgage repayments.

It’s important to note that lenders assess affordability on a case by case basis and salary isn’t the only factor to consider when assessing which properties you can afford.

He explained: “Affordability depends a lot on a customer’s outgoings as well as income, but in general lenders will hardly ever lend above five times your income- for most people, four and a half times will be the limit.”

Tom added that “the general rule is that you shouldn’t spend more than 30% of your monthly income on a mortgage” if you want to pay the bills and still live comfortably- but this does depend on the customer’s circumstance.

Overall, Mr Newcombe explained that you should ”weigh up your personal circumstances only commit to paying what you can comfortably afford.”

How we did the maths

Our estimations are based off the MoneySuperMarket recommendation that your mortgage should only take up 30 per cent of your total annual income- that’s if you still want money for the nicer things in life.  

Our figures are also estimates based on a 2 per cent interest rate, 10 per cent deposit and a 25 year repayment term.

With that being said, here are six of the cheapest homes for sale in Cumbria- and the estimated salary you would need to buy them.

Raffles Avenue, Carlisle
Cost of house:
Estimated annual mortgage cost:  £2400
Annual salary when mortgage is 30% of total: £8000

News and Star: The garden (Photo: Zoopla)The garden (Photo: Zoopla)

On the market for a two bedroom house? Then this bargain Carlisle home could be the ideal property for you.

According to our estimations, you need to earn £8000 per year in order to live here comfortably.

However, this doesn’t include the cost of redecoration as the property is in need of modernisation.

Despite this, the house has a lot to offer and benefits from central heating- also, all windows are double glazed.

Best of all, the new owner benefits from having their very own enclosed rear garden.

Moss Bay Road, Workington

News and Star: The kitchen (Photo: Zoopla)The kitchen (Photo: Zoopla)

Cost of house: £49,000 
Estimated annual mortgage cost:  £2,232
Annual salary when mortgage is 30% of total: £7440

According to Zoopla, this house is over £140,000 cheaper than the average home in Cumbria- and it has a lot to offer.

Earlier this year, the price of the property was even reduced by £3,500.

The property has two bedrooms, two reception rooms and a fitted kitchen with a contemporary aesthetic.

The house is well presented and basically ready to move straight into.

King Street, Cleator
Cost of house: £49,950
Estimated annual mortgage cost: £2,280
Annual salary when mortgage is 30% of total: £7600

News and Star: Outside the Kings Street property (Photo: Zoopla)Outside the Kings Street property (Photo: Zoopla)

At less than £50,000, this property is an absolute steal.

The property is described as “deceptively” spacious, with three bedrooms and two bathrooms.

While it is in need of a full refurbishment, it could be a fantastic little place to live after these cosmetic adjustments have been made.

However, before you place a bid keep in mind the additional running costs of the property.

Zoopla estimates that this house will cost an additional £5160 per year to run.

Newton Street, Millom

Cost of house: £41,950 
Estimated annual mortgage cost:  £1,920
Annual salary when mortgage is 30% of total: £6400

News and Star: Inside the property (Photo: Zoopla)Inside the property (Photo: Zoopla)
According to our calculations, the annual salary needed to afford this bargain-priced property is £6400.

Due to its low price point, it would be a great house for first time buyers or even for landlords looking for an investment property.

The house has two bedrooms, one bathroom and a yard to the rear.

The kitchen has a range of base and wall units plus an oven, hob and extractor.

The lounge and dining area has an open plan design, making full use of the space available.

Lord Street, Millom

Cost of house: £42,500
Estimated annual mortgage cost:  £1944
Annual salary when mortgage is 30% of total: £6480

News and Star: Would you live in this house? (Photo: Zoopla)Would you live in this house? (Photo: Zoopla)

This property needs a lot of love, modernisation and refurbishment.

However, it could be a great family home or lucrative investment property once it has been fixed up.

The property is in a great location near Millom town centre.

The house itself has two bedrooms and also benefits from a rear yard.

Penrith Street, BarrowNews and Star: A peek at the kitchen (Photo: Zoopla)A peek at the kitchen (Photo: Zoopla)

Cost of house: £45,000
Estimated annual mortgage cost:  £2052
Annual salary when mortgage is 30% of total: £6840

Zoopla estimates that it will cost £4800 a year to run this property; this means your total property costs including mortgage repayments will be approximately £11,640- which is a great price.

This house benefits from two bedrooms, two reception rooms and one bathroom.

The kitchen has recently been refurbished, with oak effect units and laminate work surfaces.

The interiors are incredibly spacious and there is even a yard to the rear of the property.