New 'six times income' mortgage 'eyes wide open' alert

New 'six times income' mortgage 'eyes wide open' alertIt opens up more opportunities for buyers, but one broker has issued a note of cautionCommentsMoneySteven Smith Content Editor02:04, 18 Apr 2026View 3 ImagesThere's a word of caution for borrowers(Image: Iryna Melnyk via Getty Images)A major mortgage provider has announced it will now lend up to six times income, not just to first-time buyers, but also to home movers and those remortgaging. But with inflation rising and the public coffers under strain, potentially resulting in more tax hikes, a mortgage broker has warned that now may not be the time for households to put further pressure on themselves.‌Leeds Building Society has extended its Income Plus range to home movers and remortgagers, not just first-time buyers (FTBs). They, too, will now be able to borrow up to six times loan-to-income (LTI) rather than 5.5 times LTI.‌Leeds is now offering up to six times LTI to FTBs, home movers and remortgages with a minimum household income of £75,000. It will also lend up to 5.5 times LTI to home movers and remortgagers with a minimum household income of £50,000 and FTBs with a minimum household income of £30,000.‌Leeds will go as high as 95% loan-to-value (LTV) for FTBs and up to 90% LTV for home movers and remortgagers. The product will be available for new builds and self-employed applicants and will be available on a five-year fixed rate term.Leeds Building Society director of mortgage distribution, Martese Carton, said: “We’ve supported members into homeownership for over 150 years, but our research shows that a significant number of recent first-time buyers expect to outgrow their homes far sooner than anticipated.“The increasing price gap between first and second properties presents a real affordability challenge. Many households need just one additional bedroom, yet the step up in price can be substantial and difficult to bridge under standard income multiples.‌“By expanding our Income...