Skipton Building Society has become the latest lender to bring in new loan-to-income restrictions.

From Wednesday the lender’s maximum LTI for applications over 85 per cent loan-to-value will be 4.49 x income, but all other LTIs remain unchanged.

The following restrictions apply:

Where household income is lower than £40,000, max LTI is 4.45x

For Help to Buy and Shared Ownership cases, max LTI is 4.5x

All other residential lending, max LTI is 4.75x

The announcement comes after Clydesdale revealed earlier today it was capping LTIs for self-employed borrowers at 4.49x income.

Virgin Money, which is part of the same group as Clydesdale, has also brought in LTI changes today, although the restrictions are different.

Yesterday, Platform relaunched its mainstream and buy-to-let product ranges.

It also announced that the LTV at which its maximum income multiple of 4.85 could be considered would reduce from 75 to 70 per cent.

Last month Halifax capped LTIs for self employed borrowers at 4.49x income, among other restrictions.