Tipton & Coseley Building Society has increased borrowing limits to 6.5x income for certain applicants.
The high income multiple mortgages are available for both purchase and remortgage up to 80% loan-to-value (LTV), with rates starting at 5.75% for a 2-year discount and a £999 arrangement fee.
Andy Millard, head of intermediary distribution at the Tipton, said: “While our standard approach is to offer up to five times income, there will be occasions when customers need further help in securing the home they want, or just wish to make swifter progress up the property ladder.
“Our High Income Multiple products use straightforward affordability without the typical caveats of minimum income requirements or having to work within specified professions, thereby making them accessible to people from all walks of life.
“The Tipton adopts a personalised underwriting approach, so we can take full account of the applicant’s circumstances when determining how much we might lend.”
Millard added: “Where there is a proven need, offering income multiples up to this level, especially without onerous terms, can make all the difference to a buyer’s plans.”
