Sainsbury’s Bank has amended its affordability calculations to increase the average loan amount that borrowers may access.
This change means that in cases of a joint application with two dependants at 65 per cent LTV, borrowers will, on average, be able to apply £40,000 more.
In addition, the amendment will see borrowers being able to request up to £30,000 on average at 70 per cent LTV if they are single applications with one dependant.
Meanwhile, first-time buyers with two dependants will, on average, be able to apply for £47,000 more at 90 per cent LTV.
Sainsbury’s Bank head of intermediaries David Crooke says: “This announcement illustrates that we will always listen to the needs of our broker network and be responsive to their feedback.
“Our new affordability calculations will make it easier for our broker network to do business with us.”