Barclays moves to loosen LTI criteria again

Barclays has again loosened its loan-to-income criteria by reducing the threshold at which its five-times income multiple cap applies.

In March, the lender increased its maximum LTI for loans over £300,000 to five times income. Then, in June, it applied the higher LTI cap to loans of £200,000 or more. Now the cap 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 this will widen opportunities for them to get onto the property ladder as we continue to lend in a responsible way.”