Lloyds Banking Group raises borrowing limit for first-time homebuyers from 4.49 to 5.5 times their income.
Lloyds Banking Group introduces "First-time Buyer Boost", raising borrowing limit for first-time homebuyers from 4.49 to 5.5 times their income. £2bn is allocated for those requiring a mortgage over 4.5 times their salary. Eligible customers must apply for their first home, have a £50k income & provide 10% deposit. Loan-to-value (LTV) up to 90% is allowed, and no participation in shared ownership/equity schemes.
August 29, 2024
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