New income multiples effective 18/10/18

Following a review of our lending policy we are amending our income multiplies from Thursday 18 October 2018

New income multiples 

Our new income multiples are as follows:

Sole applicants 

• 5 x main income where allowable income > £50,000
• 4.5 x main income where allowable income <= £50,000

Joint applicants

• 5 x main income + 1 x secondary income (where joint allowable income > £50,000)
• 4.5 x main income + 1 x secondary income (where joint allowable income <= £50,000)
• 4.5 x joint income (where joint allowable income > £40,000)
• 4 x joint income (where joint allowable income <= £40,000)

The above income multiples are subject to an affordability assessment being completed for all mortgage applications.

For our full lending policy click here