Clydesdale Bank has introduced mortgage policy changes today, following the announcement that Virgin Money would also be enhancing its affordability calculators.
The bank removed certain income restrictions, in order to give more customers access to higher multiples.
Higher earners and customers remortgaging with no additional borrowing will now have increased access to the lender’s maximum 5.5-times multiple.
For those looking to purchase or remortgage with additional borrowing, they can now benefit from a 4.49 multiple if their income is under £50,000.
If a borrower’s income is £50,000 to £74,999 they can now borrower up to five times.
