Barclays has pushed its loan to income (LTI) multiples back up to 5.5 for high earning borrowers with immediate effect.
The lender will offer the enhanced criteria in cases where one applicant has a gross income of £75,000 or where there is joint income of £100,000.
Dean Esnard, director of London-based mortgage broker Magni Finance, said: “It is a hugely positive sign that one of the UK’s largest lenders is reintroducing higher income multiples.
“It brings much-needed choice for buyers who have found it increasingly challenging to secure a mortgage during the pandemic. This move clearly shows there is growing confidence in the market and should give other banks a major confidence boost to follow suit.”
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