Affordability changes designed to boost borrowing potential

We now offer a standard LTI of five times income across our entire mortgage range, including up to 95% loan to value. There is no minimum income requirement.

Stress tests have also been reviewed, meaning the Society will now base stress rates on the customer’s chosen mortgage product when assessing affordability. 

For many applicants, this will ease the stress test and result in an improved affordability outcome.

Head of Intermediary Distribution Andy Millard said: “These important changes will deliver a more tailored approach to affordability assessments, with full consideration of each borrower’s individual circumstances.

“It creates scope for us to increase the support we offer to brokers and applicants, while still lending responsibly.”

By using the new affordability assessments, we estimate an application with a typical household income*, and no other outstanding debts, could qualify for around £19,000 in additional borrowing.

Andy continued: “Our purpose is to help our customers achieve their most important financial goals and often that includes securing a home of their own.

“Whether it’s a first time buyer, or someone needing a lending solution later in life, we want to remove any unnecessary barriers and help even more customers with their home ownership plans. 

“In addition, we’ll always listen to what brokers tell us they need from a provider and develop our proposition accordingly.”

* calculated using ONS statistical bulletin data (released 2 May 2025) where the median household disposable income in the UK is stated as £36,700.