Related topic: LTI

Nathan Reilly, commercial director at Twenty7tec, says the rise in income multiples is not just a boost for buyers, it’s a moment where advisers can prove their value. 

Improvements to affordability assessments across the industry mean up to 65% more homes are within reach.

Products are available up to 80% LTV for purchase and remortgage.

The bank has increased its LTI multiple for first-time buyers earning over £35,000.

The lender has also reduced the minimum income requirement to £40,000 for customers seeking to borrow at 4.5x LTI and above.

The Society has introduced enhanced affordability to support remortgage borrowers.

Eligible customers with a 10% deposit may be able to borrow up to 27% more.

Borrowers earning above £100,000 can now borrow 5.5x income up to 90% LTV.

Other criteria updates include changes around capital raising and simultaneous completion.

Over 6x income is now available on selected products.