We know borrowing limits can sometimes stand in the way, even when a client could comfortably manage the monthly repayments.
That's why we've enhanced our lending policy to help more clients access higher Loan to Income borrowing when using our LTI Booster product range.
Eligible clients could now borrow up to six times their income, helping them to increase the range of homes they might be able to consider, expand their property search and potentially look to buy sooner than they might otherwise be able to.
A reminder of what you need to know:
- Eligible clients could borrow up to 6 times their income at up to 90% LTV.
- Eligible clients borrowing at 95% LTV could borrow up to 5.5 times their income.
- Minimum income requirements remain the same at £40,000 for sole applicants and £60,000 for joint applicants.
- Available on residential, Shared Ownership, First Homes, Help to Buy and LIFT product ranges. Not available with Track Record, Delayed Start, product transfers or Buy to Let applications.
- Lending above 5 times income is only available through the LTI Booster product range.
- All other products will be restricted up to 5x LTI.
When a client is falling just short, our LTI Booster product range could help them unlock the door to their new home.
Subject to eligibility and lending criteria.
If you have any questions on the changes, please speak to your dedicated Skipton BDM.
