Changes will take effect on Friday 8 February 2008 for new business, although approved applications will have until 4 April.
Both status and self certification applications are affected, with all other product features and underwriting criteria remaining unchanged.
Ian Warrilow, head of secured lending said the 'prudent' decision had been made following a review to assess the impact of market turbulence on the lender.
“This decision in no way diminishes our commitment to the Secured Loans sector," he added.
"Future Mortgages will continue to review the market and develop new products to meet the needs of our clients and the market.”
