SANTANDER UPS MORTGAGE INCOME MULTIPLES TO ‘ALLOW CUSTOMERS TO BORROW MORE’ – YOUR MONEY

Santander has increased income multiples, or loan-to-income (LTI) ratios, to as much as 5.5x income in some cases.

The lender said that the changes will allow some clients to borrow more than before.

Applicants with a combined income of less than £45,000 looking for capital and interest loans, can now receive a LTI ratio of 4.45x income across loan-to-value (LTV) tiers.

In addition, the LTI ratio for interest-only loans is 4.45x income for applicants earning less than £45,000.

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