Income Multiples

20 November 2020

We’ve made a change to our policy.

On Tuesday 24 November, we will introduce a new loan to income cap for residential applications. For customers with a joint allowable income of £50,000 or less, a maximum loan-to-income of 4.49x will apply. In addition to basic pay, 100% of pension and allowable benefit income will be used in the loan-to-income calculation.

This change applies to new applications submitted on or after 24 November. Remortgage applications with no additional borrowing and customers already in the pipeline will not be affected by this change.

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