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.”
Click here to read the full article.
other insights you may like
How to get a £1 million home – with no income – 25th August 2023
What you earn can have a big impact on the kind of property you can afford to buy. */?> */?> 
Is now the time to get a tracker mortgage? – 6th Aug 2023
A tracker mortgage could be the best option for the brave — but only if you think interest */?> */?> 
Wealthy UK borrowers face interest-only mortgage payment shock – July 14th 2023
Wealthy borrowers in the UK with large interest-only mortgages face a punishing jump in payments — leaving them */?> */?>