The LTI is decreasing for those earning less than £25,000 from 4.75x to 4.49% for loans under £500,000.
Scottish Widows Bank has changed its loan-to-income criteria at 75% loan-to-value and below.
The LTI is decreasing for those earning less than £25,000 from 4.75x to 4.49% for loans under £500,000.
And it is increasing for those earning more than £75,000 – from 4.75x to 5x when borrowing less than £500,000 and from 4x to 4.49x above that amount.
Neil McLellan, managing director, Scottish Widows Bank, said: “In an environment where house prices have continued to increase year on year whilst earnings have stayed relatively flat, adapting our policy in this way will help us provide greater choice for brokers to meet the needs of their customers in today’s market.”
