Precise Mortgages has lifted its loan-to-income cap to six times earnings.

The lender’s criteria update follows the chancellor’s Mansion House speech on 15 July, in which Rachel Reeves pledged to slash regulatory red tape in a bid to stimulate homeownership and support 36,000 first-time buyers over the coming year.

Precise’s updated approach, which applies to a broad range of borrower profiles including those with recent adverse credit, allows up to 6x income borrowing at up to 95% loan-to-value.

There are no restrictions based on employment type or profession, meaning self-employed applicants, joint borrowers and those moving home are equally eligible, subject to standard credit scoring and affordability checks.

Adrian Moloney (pictured), intermediary sales director at OSB Group, said the change builds on a series of enhancements made to Precise’s residential range in 2025.

“Precise has consistently supported the specialist residential market and this latest increase to LTI multiples follows a number of positive changes that have been made this year,” he said.

“These changes include increased affordability calculations (average of 9%), reduced stress rates to 1.25% as well as LTV now up to 95% which means we’re able to support even more customers with affordability challenges.”

The lender says that for a couple with a joint income of £80,000, borrowing potential could rise from £400,000 at 85% LTV to £480,000 at 95% LTV under the new rules — a 20% uplift that also allows for a smaller deposit.

Rates in the range start from 4.77%, with eligibility open to first-time buyers, home movers, and applicants with non-standard income or credit histories.