Santander for Intermediaries improves LTI ratios


Santander for Intermediaries has updated the loan-to-income (LTI) ratios in its affordability calculator. 

The changes come into effect today (14 February).

For those with a combined income of less than £45,000 the LTI is now 4.45x income on capital and interest and interest-only products.

For those with a combined income of £45,000 to £99,999 and looking for a capital and interest mortgage, the LTI for a mortgage at up toto 85% LTV is 5.00x income.

For interest-only, borrowers are looking at an LTVI or 4.45x income for all LTVs.

Meanwhile, for a combined income of £100,000 or more, the LTI for at 75% LTV or less is 5.50x income on a capital and interest mortgage, 5x income at 75% LTV to 85% LTV, and for borrowers of over 85% LTV, 4.45x.

For interest-only, at 75% LTV or less, the LTI is set at 5.50x and, at over 75% LTV, 5x income.

The lender says for remortgages without capital raising the maximum income multiple is 5.50x income.

At the end of January, Santander for Intermediaries launched residential and buy-to-let (BTL) intermediary exclusives.

The lender said the new offers would have lower rates with a higher product fee. 

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