If you want to borrow five times your income on a mortgage of more than £200,000, you could try Barclays.
The bank has just changed its loan-to-income (LTI) policy. Previously the five times income multiple cap applied to balances above £300,000.
For borrowing requirements of less than £200,000 Barclays will consider up to 4.49 times income dependent on other criteria.
Borrowers with a loan-to-value greater than 85 per cent and an income above £50,000, may be eligible for a maximum LTI of 4.49.
Help to Buy and Family Springboard lending schemes have a maximum multiple income of 4.4.
If the LTV is greater than 85 per cent and income is under £50,000, or the debt to income ratio is more than 20 per cent, the LTI is 4. So if your income is, for example, £30,000 you may be able to apply for a mortgage of £120,000.
Lending is subject to the usual affordability assessments and must align to the borrower’s needs.
A Barclays spokesman said: “Following a regular review of our lending criteria we have decided to broaden our policies. This change builds on our recent expansion of our affordability criteria and Interest Only offerings to help more customers – whether they are buying a home or remortgaging from another lender.”
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