Gatehouse Bank increases finance-to-income ratios across residential range

Gatehouse Bank has increased its finance-to-income (FTI) ratios across all Home Purchase Plans, with customers now able to apply for residential property finance up to six times their gross income.

The newly enhanced ratios will be available to all customers, including UK residents, UK expats and international residents, who are looking for residential property finance for a property in England or Wales. 

Following the changes, the maximum FTI is 4.49x for incomes below £35,000.

For income bands of £35,000 - £49,999, customers can access 5x LTI up to 80% FTV, and 4.49x above 80% FTV.

For those earning £50,000 - £74,999, they can access finance of 5.5x income up to 80% FTV, 5x income between 80 and 90% FTV, and 4.49x above 90% FTV.

Customers earning over £75,000 can now apply up to 6x income up to 80% FTV, 5.5x up to 90% FTV, and 4.49% above 90% FTV.
 
Gemma Donnelly, head of customer propositions at Gatehouse Bank, said: “Helping as many people as possible to access, or move up, the property ladder is a key focus for us at Gatehouse Bank.

“Whether our customers are a first-time buyers or current homeowners looking to refinance an existing property, today’s changes will ensure that there are more options available to those who need them.”