Santander will update household expenditure figure and National Insurance rates used in its affordability calculator from tomorrow.
The lender said that household expenditure figures will be updated to reflect the most recent figures from Office of National Statistics (ONS) data.
It added that National Insurance would be cut by 1.25 per cent in line with government changes.
Santander said its affordability calculator would be amended to align with this and urged brokers to use the calculator to ensure they get an “accurate reflection of what we can lend your clients”.
The lender said that its “usual pipeline rules” will apply, so full mortgage applications (FMAs) submitted by 10pm today will not be affected by the changes.
FMAs submitted from 6am tomorrow, or where a “material change” is made to an FMA prior to today, would be assessed under its new lending policy.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
