Aldermore customers can now borrow up to 6x income on residential mortgages.

Eligible borrowers with household incomes above £60,000 can borrow up to 6x income if their LTV is below 80%.

Borrowers with income between £40,000 and £60,000 can now borrow up to 5.5x income, depending on LTV and overall affordability.For those with income below £40,000 and under 80% LTV, the LTI limit is now 4.75x. For more than 80% LTV this falls to 4.49x. Previously the LTI limit was 4.49x across all LTV bands.

Aldermore director of mortgages Jon Cooper said: “Aldermore backs people who want to make things happen, whether it’s buying your first home, moving up the ladder, or investing in property. We’re reigniting our residential mortgage proposition, and brokers will see targeted enhancements to our owner-occupier range in the months ahead.

“I’m especially pleased to announce higher LTI limits. For many clients, this could be the difference between securing their home or missing out, and this offers a real opportunity for brokers to deliver more for their customers.”Aldermore has also launched new limited edition residential mortgages.

The new products include a two-year fixed rate residential mortgage at 5.94% up to 85% LTV, a 5.99% version up to 90% LTV and a 6.29% option up to 95% LTV, all with no fee.

A week ago HSBC announced it would lend up to 6.5x income for wealthier customers.