April Mortgages has introduced lending up to seven times income on specific products, exclusively available through intermediaries.

The increased LTI (loan to income) offering is available on the lender’s 10- and 15-year fixed rate mortgage products for applicants with a household income of £50,000 or more, up to 80% LTV.

The products are offered for residential purchase and remortgage applicants on loans ranging from £50,000 to £1m, with exceptions considered on a case-by-case basis up to £2m. The maximum term is 40 years and borrowers must be under 80 years of age at the end of the of term.

Further features include no early repayment charges (ERCs) when borrowers move home or repay from their own funds, uncapped overpayments, and automatic rate reductions as borrowers pay down capital and reduce their loan-to-value ratio.

The lender says the new products will support brokers working with clients facing ongoing affordability challenges as wage growth struggles to compete with rising house prices.

April Mortgages director of product James Pagan says: “Affordability continues to be one of the biggest barriers for borrowers, as wage growth struggles to keep pace with rising house prices. For many, homeownership feels increasingly out of reach.

“By raising income multiples to up to 7x on our 10- and 15-year fixed rate products, we’re giving brokers a powerful tool to help clients with strong earnings but limited borrowing options under standard LTI caps.

“Longer-term lending offers clients the stability of predictable payments and peace of mind – but we’ve gone a step further by removing the usual compromises. Our products combine the certainty of a fixed rate with the freedom to move or repay early without penalties, and rates that automatically reduce as the loan-to-value improves.”