On Wednesday 25 November, we will introduce a new loan-to-income cap for residential applications.
For customers with a joint allowable income of £50,000 or less, the maximum loan-to-income will be capped at 4.49x. In addition to basic pay, 100% of pension, rental and allowable benefit income will be used in the loan-to-income calculation.
This change applies to new applications submitted on or after 25 November. Remortgage applications with no additional borrowing and customers already in the pipeline will not be affected by this change.
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