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Santander can lend customers up to £35,000 more after big mortgage rule change

Summary by World ABC News
Santander has reduced its affordability rates by up to 0.75%, meaning that homebuyers may be able to borrow up to £35,000 more than before. The lender said a first time buyer couple earning £49,500 between them wanting to buy a property worth £260,000 would only have been able to borrow £196,832 under its old affordability rules. Now, if they took out a 2-3 year fixed rate mortgage they can borrow £210,352, or £13,520 more. A Santander customer …
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World ABC NewsWorld ABC News

Santander can lend customers up to £35,000 more after big mortgage rule change

Santander has reduced its affordability rates by up to 0.75%, meaning that homebuyers may be able to borrow up to £35,000 more than before. The lender said a first time buyer couple earning £49,500 between them wanting to buy a property worth £260,000 would only have been able to borrow £196,832 under its old affordability rules. Now, if they took out a 2-3 year fixed rate mortgage they can borrow £210,352, or £13,520 more. A Santander customer …

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Today's ConveyancerToday's Conveyancer

Santander first to react to FCA's call to enhance affordability | Today's Conveyancer

Santander say they are the first lender to respond to the Financial Conduct Authority's call to increase the amount of money lenders can borrow;

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Property Industry EyeProperty Industry Eye

Boost for homebuyers as Santander cuts mortgage affordability rates - Property Industry Eye

Boost for homebuyers as Santander cuts mortgage affordability rates - Breaking news for estate agents and the residential property industry. Independent, unbiased, and factual reporting. A forum for discussion and debate of topics of the day. Subscribe for our free daily newsletter.

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Property Industry Eye broke the news in on Sunday, March 30, 2025.
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