On Wednesday 25 November, we will introduce a new loan-to-income cap for residential applications.
For customers with a joint allowable income of £50,000 or less, the maximum loan-to-income will be capped at 4.49x. In addition to basic pay, 100% of pension, rental and allowable benefit income will be used in the loan-to-income calculation.
This change applies to new applications submitted on or after 25 November. Remortgage applications with no additional borrowing and customers already in the pipeline will not be affected by this change.
If you are not an intermediary of the Bank, you should not refer to the information contained in this website. If you are a professional and you reproduce any part of the information contained in this communication, to be used with or to advise retail clients, you must ensure it conforms to the Financial Conduct Authority's mortgage conduct of business rules. This site is intended for UK residents (who are intermediaries of the Bank) unless otherwise stated.
Clydesdale Bank PLC Registered in Scotland (Number SC001111). Registered Office: 177 Bothwell Street, Glasgow G2 7ER.
