TSB is to increase its maximum loan-to-income multiple cap from 4.5 to 4.75 for applicants earning over £40,000 per annum.
It is also increasing maximum loan size from £250,00 to £500,000 onselected products for residential borrowers.
The bank has also made further changes including the introduction of two, three and five-year fixed rates (90-95% LTV) with £995 fee in the house purchase range.
Its five-year fixed (75-85% LTV) rates in house purchase and remortgage range has increased by 0.05 percentage points.
Nick Smith, TSB’s head of mortgages, said: “TSB is committed to helping people to borrow well and increasing our loan-to-income cap and maximum loan size on selected products is about being able to give customers more flexibility on their borrowing needs whilst still meeting our affordability criteria.
“We’ve also been able to widen our product range with a number of new mortgage products across TSB’s house purchase range for those borrowers looking to fix their monthly payments for a varied period of time.”
