We’ve got some great news for you – and for your customers too. You can now offer more of them the loan amounts they need. Read on and we’ll tell you why.
Put simply, we’ve made some improvements to our affordability calculations. This means, for most customers, we can now lend more today than we could last week.
Want to find out how much we could lend? Check out our updated affordability calculator.
We’ve relaxed our rules and removed restrictions, giving more customers access to higher multiples.
Higher earners and customers remortgaging with no additional borrowing have increased access to our max 5.5x multiple.
Here are our new multiples:
Purchase or remortgage with additional borrowing
Max 4.49x LTI over 85% LTV or if any applicant is self-employed (not including contractors meeting our contractor policy), at all income levels.
To determine the £50k/£75k income levels, when applying LTI multiples we’ll include basic pay, 60% of allowable variable income, and 100% of pension, rental and allowable benefit income.
Remortgage with no additional borrowing
Just so you know, for a remortgage with no additional borrowing, income level and self-employment don’t impact LTI limits.
Plus, we still offer up to 5.5x for eligible Newly Qualified Professional applicants taking an NQP product.
For more info, head to our lending criteria.
If you are not an intermediary of the Bank, you should not refer to the information contained in this website. If you are a professional and you reproduce any part of the information contained in this communication, to be used with or to advise retail clients, you must ensure it conforms to the Financial Conduct Authority's mortgage conduct of business rules. This site is intended for UK residents (who are intermediaries of the Bank) unless otherwise stated.
Clydesdale Bank PLC Registered in Scotland (Number SC001111). Registered Office: 177 Bothwell Street, Glasgow G2 7ER.
