Extra help with affordability
We now offer extra help with affordability for your remortgage clients. They may be able to borrow more, if they take out a 5 or 10 year fixed rate mortgage and meet eligibility criteria.
This is eligible to:
- Employed and self-employed applicants.
- Minimum income of £40,000 for a sole applicant, or £70,000 for joint applicants.
- 5 or 10 year fixed rate product options.
For clients looking to remortgage without additional borrowing, they will still be able to borrow up to 6.5x loan to income (LTI) and up to 95% loan to value (LTV).
How much more can be borrowed?
Below are two examples based on joint applicants. The first is based on joint applicants applying to remortgage with additional borrowing. The second example is based on joint applicants applying for a like for like mortgage.