April Mortgages introduces higher LTI limits Mortgage Strategy

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April Mortgages has increased its loan-to-income (LTI) caps on its range of 5 to 15-year fixed rates, available up to 95% LTV.

The company will now lend up to six times sole and joint income to first time buyers, home movers & like-for-like remortgages.

Previously the lender offered LTI of 4.5 times and LTI of 5 times for like for like remortgage.

Higher loan-to-income caps support borrowers in the face of continued house price growth. According to the latest data from the Office for National Statistics, house prices have increased by 1.1% in the 12 months to April 2024, with the average property now costing £281,000.

Commenting on the recent changes April Mortgages director of product & portfolio management James Pagan said:

“Securing your rate for a period of five to 15 years makes it easier to budget, and removes the stress of having to deal with rate fluctuations every couple of years. Those with higher loan-to-values can then sit back and benefit from a rate that reduces with their LTV.”

He added: “The LTI cap improvements are the result of ongoing discussions with mortgage brokers, demonstrating our commitment to working closely with brokers and delivering the products and processes they and their clients most need.”


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