Barclays Mortgages is increasing the maximum income multiples for people earning up to £50,000.
The lender has removed the four times multiple limit on mortgages with an LTV between 85% and 90%.
All customers in this LTV range will now have access to a 4.49x income multiple
The full changes are as follows:
The following multiples apply for specialist schemes Family Springboard: a maximum multiple of 5.5x applies for incomes above £50,000 Premier and Wealth clients: up to a maximum multiple of 5.5x applies for repayment loans where at least one applicant earns a basic income of £75,000 or more (£100,000 for joint applications where neither applicant earns £75,000). To qualify for 5.5x customers must meet all other criteria for the maximum standard 5.0x multiple Help to Buy schemes: a maximum multiple of 4.49x already applies | ||||||||||||||||||
