Residential policy
Purchase or remortgage with additional borrowing
- The maximum income multiple is 5.5x if the total income is £75,000+ and no applicant is self-employed. Available to 85% LTV
- The maximum income multiple is 5x if the total income is £50,000 - £74,999. Available to 85% LTV
- The maximum income multiple is 4.49x if the total income is under £50,000 or if the LTV is over 85%
| Application type | Total income | Income multiple |
|---|---|---|
| Over 85% LTV (all employment types) | All levels | 4.49x |
| Up to 85% LTV (self-employed) | Under £50,000 | 4.49x |
| £50,000+ | 5x | |
| Up to 85% LTV (employed or contractor) | Under £50,000 | 4.49x |
| £50,000 - £74,999 | 5x | |
| £75,000+ | 5.5x |
To determine the £50k/£75k income levels and when applying LTI multiples, we include basic pay, 60% of allowable variable income, and 100% of pension, rental and allowable benefit income. It’s the total from all applicants we use.
Remortgage with no additional borrowing
- Up to 85% LTV – 5.5x
- Over 85% LTV – 4.49x
For a remortgage with no additional borrowing, income level and self-employment don’t impact LTI limits.
Newly qualified professionals
- Up to 5.5x for eligible newly qualified professional applicants taking a NQP product
NQP products have separate eligibility requirements and the LTI for a NQP applicant does not depend on the £50k/£75k income levels, application type, LTV or self-employment status.