Good news – we’ve enhanced our residential lending policy
01 September 2025
With effect from today, Monday 1st September, we will be making the following changes to our residential lending policy.
Introducing Loan to Income (LTI) multiples for First Time Buyers (FTB)
To support FTBs we have introduced new LTI multiples to help them take their first steps into home ownership.
A higher income multiple is now available subject to meeting the following criteria:
- Applicant(s) must be a FTB
- Sole applicant – a minimum income of £35,000
- Joint applicants – a combined minimum income of £55,000
Changes to non-FTB LTIs
We’ve increased the maximum LTI for non-FTB customers with an income of £45,000 up to (but not inc.) £100,000 from 4.75 to 5.00 x income, where LTV is less than or equal to 85%.
Please see the below table for further details on our LTI changes:
Changes to our Interest Only lending policy
We’ve changed how we assess Interest Only applications to help more customers with their mortgage needs:
- Increased the maximum term for Part & Part applications - the Capital Repayment element can now be taken up to a maximum of 40 years. Please note, the Interest Only part will still be limited to a maximum of 25 years.
- Increased the maximum age for Part & Part applications – the Capital Repayment element can now be taken up to the applicant’s 80th birthday.
- Any element of the application on Interest Only must not exceed the oldest applicants 70th birthday or anticipated retirement age if sooner.
- All Interest Only applications will now be assessed for affordability on a Capital Repayment basis.
Current Service Levels
Please note, our Service Levels are now updated daily on the broker website. Before contacting our Broker Support Team for a case update, please check the case tracking facility and the messages section on our broker portal.
Need any help
Use 'Chat with us' or call our Broker Support Team on 0345 600 5847 (Monday to Friday, 9am to 5pm) or contact your local BDM.
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