Here is a summary of the key changes and announcements in the mortgage market for this week. 

        Santander is the latest lender to introduce Loan to Income restrictions in its lending criteria. For First Time Buyers only, Santander will cap the loan to 4.49 times of the client’s income, regardless of whether the affordability could allow more. This follows a raft of other lenders introducing an LTI cap but will only affect FTBs here.

·         Mortgage Trust has announced a new Buy to Let exclusive for Capricorn. With 25% deposit, the BTL specialist is offering a 3.25% 2yr fixed rate, with fees of £895 and free survey. This is an excellent rate from MT and puts them well in the mix rate wise but with a lower than average fee.

·         Metro Bank has recently confirmed that it can still lend to clients on a Sole Title/Joint Mortgage basis. This is a useful addition to the Capricorn armoury, as you can make use of two incomes but not have the need for both clients to be on the title deeds of the property. This niche is occasionally used as an alternative to guarantor mortgages as well.

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