David Morris, Head of Homes at Santander UK, comments on the PRA's Loan to Income changes

16 July 2025

David Morris, Head of Homes at Santander UK:

“Home ownership is part and parcel of the British psyche, and we know that for many, realising these aspirations can be challenging. That’s why we welcome the PRA’s updated guidance on LTI flow limits, which will enable more people to achieve their homeownership ambitions. We led the market earlier this year, being the first to launch sub 4% mortgages, and the first to update our affordability rates, enabling customers to borrow up to £35,000 more and making a tangible difference to what customers can afford. Given our focus on the first-time buyer market, we have further updates in train, which could support 5,000 more first-time buyers, and we’ll continue to look at additional ways we can help aspiring homeowners, given the potential to go above the 15% limit.

“While the changes to LTI flows help ensure there remains a strong pipeline in terms of ‘demand’, ‘supply’ must also keep apace, and we welcome those initiatives that respond to the increasing demands that a growing population has on housing stock, such as the Government’s 1.5 million new homes ambition, which will play a vital role ensuring there remain sufficient properties.”