Lenders will no longer have to apply an affordability assessment to their mortgage customers

K_S

thegentleway said:

K_S said:

An example of a lender (Nationwide) enhancing potential max-borrowing after the dropping of the stress test, good for high-income PAYE applicants looking to maximise borrowing.

Weren’t banks doing 5.5x already? Pretty sure Barclays said they’d lend us 5.5 times loan to income instead of their normal 4.5x in May

@thegentleway Indeed, Barclays does do up to 5.5x up to 85% LTV for high income applicants. It differs across lenders, incomes levels, LTVs, professions, etc. There were already lenders who even did 6x+. Nationwide didn't have a non-FTB high-income high-LTI high-LTV offering prior to the above. Hopefully others will follow in due course.