Affordability update

On Wednesday 19 February we’re updating the Office for National Statistics (ONS) data we use to calculate how much your client could borrow. Our affordability calculation will be updated to reflect these changes.

Help to Buy income multiple

We’re also updating our maximum income multiple for Help to Buy: equity loan and London Help to Buy applications to 4.50x income.

Pipeline rules for these changes

All full mortgage applications (FMAs) already submitted on Introducer Internet by 9pm on Tuesday 18 February won’t be affected and will continue to be progressed on our existing affordability calculation.

Any FMAs submitted from 6am on Wednesday 19 February, or where a material change is made to an FMA submitted before 9pm on Tuesday 18 February, will be assessed using the new affordability calculation.