We’re pleased to report that we’re making some positive changes to our later life proposition as we work our way through these turbulent and challenging times.
With immediate effect we’ve:
- Removed the LTI restriction of 4.5 x income for like-for-like re-mortgages, taking it back up to 6 x income
- Re-introduced the consideration of earned income up to the age of 80 for affordability.
We’re also now undertaking physical valuations in England. You can find out more about how we’re doing this safely here.
As a responsible lender we’ll continue to monitor the situation and improve our criteria where possible. We’ll also work with our brokers to accommodate exceptional cases where we can, so please do get in touch with your local BDM or our lending support team. We’re happy to chat through any cases you have to see if we can help.
