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We’re making enhancements to our residential Loan‑to‑Incomes (LTIs). These changes mean that you’ll be able to help your customers borrow more making it even easier for them to get the mortgage they need.
What’s changing?
The changes are:
- Sole £75k+ / Joint £100k+ Income Band: - Increasing to 6.0x from 5.5x for 75% LTV and below.
- Sole/Joint £40k+ Income Band: - Increasing to 5.5x from 5.0x for 75% LTV and below.
- The new LTI enhancements will apply to new applications only submitted from 28th January.
- These changes apply to capital and interest mortgages only.
What this could mean to your customers: A customer earning £75,000 a year could now potentially borrow up to £37,500 more under the updated LTI calculations than they could before this change.
For more information:
- Look at our updated Loan-to-Income tables in our A-Z lending criteria.
If you'd like further guidance on our other policies, please visit our lending criteria page.