The OSB Group’s precise limit increases the loan limit for loans to income (LTI), providing six times for qualified residential customers.
There are no restrictions on the borrower’s industry, but customers will have to meet internal credit scores and affordability assessments.
The lender’s residential scope includes all types of borrowers, including employed, self-employed, bad, combined, first-time buyers and porters, with prices starting at 4.77% of all types of borrowers with a maximum 6x income (LTV) income of 95% (LTV).
“Precisely support the professional residential market, while the latest growth to the LTI multiple follows many positive changes this year,” said Adrian Moloney, Director of Intermediary Sales at OSB Group.
“These changes include increased affordability calculations (9% on average), reducing the stress rate to 1.25%, while LTV is now up to 95%, which means we are able to provide affordability challenges for more customers.”
The standard change comes after Rachel Reeves’s luxury home speech on July 15, when she announced cuts to the Traditional Tape Festival to increase home ownership in the UK and promises to support 36,000 first-time home buyers over the next 12 months.
