Santander has increased income multiples, or loan to income (LTI) ratios, to as much as 5.5x income in some cases.
The lender said that the changes will allow some clients to borrow more than before.
For capital and interest loans, applicants with a combined income of less than £45,000 the LTI ratio comes to 4.45 times income across loan to value (LTV) tiers.
The LTI ratio for interest-only loans is 4.45 times income for applicants earning less than £45,000 as well.
For capital and interest applicants with a combined income of between £45,000 to £99,999 the LTI ratio is five times income at 75 per cent LTV or less or between 75 per cent LTV and 85 per cent LTV.
The LTI ratio for capital and interest loans over 85 per cent LTV is 4.45 times income, which also reads across to interest-only loans.
For capital and interest applicants earning £100,000 or more the LTI ratio is 5.5 times income for loans at 75 per cent LTV or less or between 75 and 85 per cent LTV.
For loans over 85 per cent LTV at this income bracket the LTI ratio is 4.45 times income.
On interest-only loans for those earning £100,000 or more, the LTI ratio is 5.5 times income at 75 per cent LTV or less and five times income over 75 per cent LTV.
For remortgages without capital raising, the maximum income multiple is 5.5 times income.
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.
