Related topic: Mortgages

The change enhances affordability for borrowers with complex or non-standard income profiles.

The winners of the Mortgage Industry Marketing Awards (MIMAs) 2025 were revealed yesterday during a dedicated awards ceremony at The Camden in London.

Industry experts say the figures illustrate the market's resilience in the face of wider economic and political concerns.

Grant Hendry, director of sales at Foundation Home Loans, says the complexity of expat borrowing means the traditional, one-size-fits-all approach to lending rarely works.

The Society says the unified approach will deliver a 'faster, smarter service'.

The cuts follow a reduction to the minimum income required for enhanced LTI ratios through First Time Buyer Boost.

Only two in every five of the lenders polled were confident their servicing teams were ready to deal with the results of an increasingly volatile economic environment.

More than 220,000 new mortgages were approved, representing 31% of all market approvals.

Rates have reduced by up to 0.19% across purchase, remortgage and product transfer.

Nationwide’s lowest rate is now 3.60% for new and existing customers looking to move home.