Affordability update

On Friday 27 April we’re updating the Office for National Statistics (ONS) data we use to verify your clients’ stated household expenditure within Introducer Internet. We’ll also be updating our affordability calculator which will reflect these new changes in the calculation.

Other properties

We’re also updating our lending criteria to increase the number of properties your client can own from four to five, including the property being applied for. 

Pipeline rules for these changes

All full mortgage applications (FMAs) already submitted on Introducer Internet by 9pm on Thursday 26 April won’t be affected and will continue to be progressed on our existing residential lending policy.

Any FMAs submitted from 6am on Friday 27 April, or where a material change is made to an FMA submitted before 9pm on Thursday 26 April, will be assessed using the new residential lending policy.

Further help and support

The affordability calculator will be updated to reflect these changes as well as our website and lending criteria.

 

 

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