Related topic: LTI

The changes will enable borrowers to increase their maximum loan amount by up to £31,000.

Following the increase, single first-time buyers could see the deposit hurdle cut from £69,000 to £12,000.

The changes will support higher-earning residential borrowers.

The Society has reintroduced high income multiple mortgages.

The lender has lifted the maximum LTI on core residential products to 5.5x income.

Principality has relaxed first-time buyer eligibility at 5.5x loan to income.

The regulators propose that lenders should have flexibility to determine their own individual high LTI lending strategies.

NatWest has also launched a dedicated WhatsApp channel to support mortgage brokers and intermediaries. 

The change could provide an uplift of £37,500 for single applicants and £50,000 for joint applicants.

Stress tests have also been lowered across Metro Bank’s two-year fixed rate products.