Halifax Intermediaries has lifted its loan-to-value ratio from 75% to 90% to boost maximum loan amounts for purchase or remortgage borrowers who opt for five-year fixed-rate mortgages from today (18 May). 

It is also raising selected loan-to-income caps used in affordability calculations, the lender says in a note to brokers. 

The business says:  

• For like-for-like remortgage customers with no additional borrowing, who receive employed income only, up to 75% LTV and subject to credit score a 5.50 times LTI will apply. The standard LTI would normally be below this level 
• For employed incomes only, ranging between £50,000 and £75,000 and a LTV 75.01 between 85%, the standard LTI is being lifted from 4.75 times to 5.00 times 

The bank adds for the five-year-plus fixed-rate boost to apply the whole loan amount must be on a five-year-plus fixed-rate. If porting a product from an existing Halifax mortgage, the remaining term on the ported fixed-rate product would also have to be five-years-plus. 

It says that the increased LTI for like-for-like remortgages will not apply for remortgages on an affordable housing scheme (shared equity or shared ownership) where a 4.49 times LTI calculation still applies. 

Head of Halifax Intermediaries & Scottish Widows Bank Amanda Bryden says: “We’re making some affordability changes in response to the changing market and broker feedback, so we can continue to help even more customers.  

“It’s important that we continue to support affordability while at the same time delivering the right outcomes for our borrowers. Longer term fixed rates, and the certainty of payment they offer, allow us to do that here.”