New Mortgage Package wef 290322
- Selected fixed rates for house purchase amended
- Selected fixed rates for remortgage amended
- Selected fixed rates for foreign currency amended
- Northern Ireland Co-ownership fixed product amended
Please note that the Society also has introduced enhanced income multiples – notes relating to this are detailed below.
Enhanced income multiples & minimum income requirement
In addition to the application passing our affordability assessment, we will allow an enhanced income multiple to be applied, where the following minimum income requirement is met:
- Sole application – minimum income requirement – £40,000 pa;
- Joint application – minimum joint income requirement – £70,000 pa.
Where an applicant is employed, the minimum income requirement is based on the basic gross salary only and does not permit overtime, bonuses etc. Where the applicant is self-employed, the minimum income is based on the most recent SA302 and Tax Year Overview. We will not accept projected income to meet a minimum income requirement.
Our enhanced income multiples are as follows:
Loan to Value (LTV)
Enhanced income multiple (single or joint)
Up to 80% LTV
Up to 85% LTV
Up to 90% LTV
Up to 95% LTV