Mortgage Express standard mortgages in shake-up
www.moneynews.co.uk > Mortgages > Mortgage Express standard mortgages in shake-up
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Money News |
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Mortgage Express standard mortgages in shake-up
Wed 11th Jan 2006
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A wide range of other products will also be affected by the changes, including self-certification and FlexAbility mortgages.
Income multiples have been increased on Mortgage Express standard mortgages and other products in the range. The amount lent on each LTV limit has also been boosted, though the bands remain the same.
Mortgage Express has conducted a review of its products and the current changes are part of a drive to ensure that the company is in touch with customer needs as a responsible lender.
Tim Sturley, head of distribution, said: "Our market analysis clearly demonstrates that the higher the applicant's income, the greater amount of disposable cash they can attribute to housing costs. As a result, we have introduced higher income multiples for higher earners."
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