Related topic: Affordability

The change will allow eligible customers to borrow up to an additional £33,000. 

The latest improvements launched today cover adverse credit, affordability and lower pricing.

Individual applicants are outstripping joint applicants consistently for the first time in five years. 

The Society has improved its affordability calculator, with up to 25% more borrowing power available.

The typical first-time buyer home now costs 5.9 times average earnings – the lowest ratio since 2015.

The income to house price ratio is forecast to fall to 8.2.

The average borrower’s mortgage accounted for 34.3% of their salary in September – the lowest proportion since November 2022.

The Bank says it has 'reignited' its residential proposition.

Knowledge Bank has announced that its affordability tool AffCalc is now available to all brokers registered with the system, whether full users or trial users.

Barclays now considers bonus, overtime, and commission income up to 4x basic salary plus allowances.