View more on these topics

Hinckley & Rugby increases loan to income multiplier

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.

This comes after the building society added lawyers, barristers and accountants to the professions which qualify for the lender’s higher income multiplier on select mortgages last month.


UTB appoints new BDM

United Trust Bank has appointed Owen Bentley (pictured) as its new business development manager for its mortgage and bridging team. Bentley has over 12 years’ experience in the mortgage industry, having previously worked at SPF Private Clients, Christie Finance, BNP Paribas Leasing Solutions and most recently Precise Mortgages, where he held the position of national […]


News and expert analysis straight to your inbox

Sign up