TSB increases income multiples

Mortgage Introducer

March 15, 2019

TSB has increased loan-to-income multiple caps from 4.5 to 4.75 for applicants earning over £40,000 per year.

The lender is also increasing the maximum loan size from £250,00 to £500,000 for residential borrowers.

Nick Smith, TSB’s head of mortgages, said: “TSB is committed to helping people to borrow well and increasing our loan-to-income cap and maximum loan size on selected products is about being able to give customers more flexibility on their borrowing needs whilst still meeting our affordability criteria.

“We’ve also been able to widen our product range with a number of new mortgage products across TSB’s house purchase range for those borrowers looking to fix their monthly payments for a varied period of time.”

The bank has introduced 2-year, 3-year and 5-year products to 95% LTV, while it has increased 5-year fixes at 85% LTV for house purchase and remortgage by 0.05%.

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