Great news about LTI criteria
We’ve changed our Loan to Income (LTI) criteria to help more of your clients buy their own home. The new criteria is as follows:Income of £40k or less, or LTV over 90% (previously 85%) – maximum LTI 4.49.
- Help to Buy & Shared Ownership – maximum LTI 4.5.
- Income of £80k or less, or LTV over 85% (previously 75%), or for any element of Interest Only – maximum LTI 4.75.
- All other residential lending – maximum LTI 5.
View our latest lending criteria
“These changes mean some of your clients could benefit from an extra £20,000 of borrowing or £40,000 for joint applicants. That could make a huge impact on the property they are looking to buy, especially those at 90% LTV, where raising that extra cash as a deposit is increasingly difficult.”
- Charlotte Harrison, Head of Mortgage Products, Skipton Building Society
