NATWEST enhances its loan income (LTI) calculations for residential capital and interest mortgages, giving borrowers access to multiples of up to 5.5 times.
Earn more than £40,000 single or joint borrowers to borrow between 75% and 90% loan-to-value (LTV), LTI can reach up to 5 times the LTI.
Those who earn more than £75,000 of income/£10,000 of combined income and borrow 75% to 90% of LTV may reach 5.5 times the LTI.
These LTIs can withstand affordability and credit scores.
“Today’s move means we can support more customers to buy homes. This is the first of many improvements we have made this year,” said the head of Natwest Mortgage Lloyd Cochrane.
“Whether our customers want to buy their first home or move along the property ladder, we are committed to making lending as inclusive as possible, and this move is the latest step in that direction.”
NATWEST is the latest lender after raising its LTI standards Marsden Architectural Association,,,,, Loughborough Architectural Association and TSB Changes have been announced recently.
Lenders are under pressure after lowering LTI standards Governor of the Bank of England A “public debate” is needed in terms of the trade-off between higher collection rates and the possible mortgage market access to the mortgage market.
All over the country also called on the government View industry loan to income mortgage cap To help more first-time buyers enter the property ladder.
