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Loan to Income, often shortened to LTI, is one of the ways lenders work out how much you may be able to borrow.
It compares the amount you want to borrow with your annual income.
For example, borrowing £200,000 on an income of £40,000 would give you a Loan to Income ratio of 5 times your income.
Your income is just one part of the picture. We'll also look at things like your pending commitments and overall affordability before considering offering you a mortgage.
Our LTI Booster mortgage product range is designed for people who need to borrow more than our standard Loan to Income limits.
Most of our residential mortgage products are available up to 5 times your income. If you need to borrow more than this, depending on your circumstances, an LTI Booster mortgage may allow you to borrow up to 6 times your income. That could help you explore more homes and consider a wider range of properties.
An LTI Booster mortgage could help you if you're looking to:
Borrowing more means higher monthly repayments and may increase the total amount you repay over the life of the mortgage, so it's important to make sure your mortgage remains affordable both now and in the future.
An LTI Booster mortgage may be worth considering if borrowing limits are affecting your home buying options.
The amount you could borrow will depend on your individual circumstances and we'll always carry out checks to make sure any mortgage is affordable for you.
The information below explains key details and what this means for you.
| Key detail | What this means for you |
|---|---|
| Maximum Loan to Income | You may be able to borrow up to 6 times your income, as long as you meet our lending and affordability criteria. |
| Income checks | We'll need to verify your income as part of your application. If we can’t verify your income, it may affect how much you can borrow and which products are available to you. To be eligible for higher Loan to Income borrowing, minimum income requirements apply. |
| Income amount | To be eligible for an LTI Booster mortgage you need a minimum annual income of £40,000 if you're applying on your own. If you're applying jointly with someone else you'll need a minimum combined annual income of £60,000. Lenders look at your income alongside other factors, including your outgoings, financial commitments and credit history. The amount you could borrow will depend on your individual circumstances. |
| Available with | Residential mortgages, including some Shared Ownership, Help to Buy, First Homes and Lift products, subject to our lending criteria. |
| LTI Booster policy does not apply to | Buy to Let mortgages, product transfers, Delayed Start mortgages and Track Record mortgages. |
Higher interest rates | Because these mortgages allow higher borrowing, they come with a higher interest rate than some of our standard mortgage products. Borrowing more may increase your monthly payments and the total amount you repay over the life of the mortgage. |
| Deposit requirements | The amount you can borrow depends on the size of your deposit. In general, a larger deposit may allow access to higher Loan to Income limits, subject to our lending and affordability criteria. |
If you don't keep up with your mortgage payments, you could lose your home.
The amount you could borrow depends on your individual circumstances, including your income, regular spending and credit commitments.
An LTI Booster may allow you to borrow up to 6 times your income, as long as you meet affordability and lending criteria.
You may still be able to apply for one of our standard mortgage products if you don't meet the minimum income requirements for an LTI Booster mortgage. The amount you could borrow will depend on your income, outgoings and individual circumstances.
