This was previously four times income and the change applies to those who are remortgaging or purchasing a new property. 

The mutual currently lends up to 85 per cent loan to value (LTV) on self-employed applications. 

This change comes after data from Mortgage Broker Tools last month found that self-employed borrowers were finding it harder to secure their desired mortgage loan amount after the mini Budget. 

The criteria sourcing system provider revealed that the proportion of searches completed on its platform which did not meet a self-employed applicant’s needs rose from 28 per cent before the mini Budget to 37 per cent.