Hinckley & Rugby Building Society has increased its loan to income multiplier across its residential range for products with an 80 per cent LTV or higher.
The amendment has seen the income multiplier increase from four times income levels to 4.49.
The change has been applied to all the sub categories within the lender’s residential range, including fee-free, fixed rate, discount, offset, self-build and cashback products.
Hinckley & Rugby head of sales and marketing Carolyn Thornley-Yates comments: “Brokers told us our four times loan to income was an obstacle in some cases.
“The brokers have clients who need a little leeway on their loan to income whilst comfortably passing our disposable income affordability test.