This is pretty big news in the world of mortgages. It is being done to try and cap inflationary pressures on the London housing market. Other contractor friendly lenders who work off your daily rate will still go to 4.5 x income but it will be interesting to see if they follow suit as they may not want the influx of business.
Lloyds slaps 4 x income restriction on borrowing over £500K | News | Mortgage Strategy
Lloyds slaps 4 x income restriction on borrowing over £500K | News | Mortgage Strategy
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