We’re pleased to announce an update to our mortgage criteria designed to broaden access and make it easier for more clients to qualify.
Key Enhancements
Lower minimum income for Prime
We have reduced the minimum income requirement for our Prime product applications from £35,000 to £30,000 for the sole or primary applicant. This change expands eligibility and allows more clients to access our Prime product.
Greater flexibility for joint applications
We have also simplified our income assessment by removing the combined income requirement for joint applications. Previously, joint applications required either each applicant to earn at least £35,000 or the applicants to have a combined income of £60,000. Under our updated criteria, applications can now be considered where the sole or primary applicant meets the minimum income threshold, providing greater flexibility while continuing to support joint applications.
Updated Income Thresholds
| Product | LTV | Threshold |
|---|---|---|
| Prime | >80% | £30,000 (sole/primary applicant) |
| Professional | >80% | £40,000 (sole/primary applicant) |
| Professional | <80% | £35,000 (sole/primary applicant) unchanged |