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Santander ups mortgage income multiples

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  • 14/02/2023
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Santander ups mortgage income multiples
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.

 

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