Barclays has once again loosened its LTI criteria by reducing the threshold at which its 5 times income multiple cap applies.
In March, the lender increased its maximum LTI for loans over £300,000 to 5 times income. Then, in June, it applied the higher LTI cap to loans of £200,000 or over. Now it applies to loans of £175,000 or over.
Barclays director of mortgage products Craig Calder says: “We’re making these changes because we want to extend the opportunity for more people to become homeowners.
“We understand that first time buyers in particular have a unique set of challenges and know that this will widen opportunities for them to get onto the property ladder – as we continue to lend in a responsible way.”