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Skipton returns to 5x loan-to-income lending

Jake Carter

October 28, 2021

house purchase

Skipton Building Society will return to 5x loan-to-income (LTI) lending on 1 November, subject to affordability and credit score.

This is for 75% loan-to-value (LTV) products or lower on repayment (C&I), with income over £80,000, which is an increase on the previous LTI of 4.75x.

Where the income is £40,000 or less or the LTV is over 85%, the maximum LTI is now 4.49x, up from was 4.45x, and for Help to Buy and shared ownership the maximum LTI remains at 4.5x.

Where the LTV is 75%, the income is £80,000 or less and there is any element of interest-only, the maximum LTI will remain at 4.75x.

Charlotte Harrison, head of mortgage products at Skipton Building Society, said: “I’m delighted to announce further improvements to our lending policy that supports larger loans for our mortgage customers.

“Its pleasing to see a continued evolvement of our mortgage proposition that continues to reflect the needs of our borrowers.”


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