23 Jan 2016
Society Simplifies its Income Multiple Levels
The Society may [subject to status] be able to offer income multiples up to a maximum of:
- Single: 4.25 times income
- Joint: 4.50 times combined income of both applicants
In order for these multiples to be considered, the loan to value must not exceed 80%.
If the loan to value exceeds 80%, the following income multiples apply:
- Single: 4.00 times income
- Joint: the greater of 3.25 times the combined income of both applicants or 4.00 times income of the larger earner (disregarding the second applicant's income)
Please also note that any regular monthly financial commitments must be taken into account and deducted from the income prior to multiplying.
Please contact our Business Development Manager, or a member of our mortgage team, in the first instance to discuss cases which exceed our standard multiples, prior to submission.
Alternatively, you can use our Mortgage Calculator.
