Hinckley & Rugby Building Society has increased its loan to income (LTI) multiplier across its residential range for applications up to 80% LTV.

The rise covers all of its residential mortgages, including fee-free, fixed rate, discount, offset, self-build and cashback products.

The LTI for mortgages up to 80% LTV has increased from four times single or joint income to 4.49 times, following feedback from brokers.

“For those people, the 4.49 times multiplier brings a Hinckley & Rugby mortgage into play along with our niche approach to personally considering each application.

“It also enables other applicants — those coming to us directly and via introducers — to borrow a little more if it’s affordable, given their circumstances.”

Risk Warning: The Financial Conduct Authority does not regulate some forms of Buy to Lets. Your home/property may be repossessed if you do not keep up repayments on your mortgage.