Platform, Clydesdale and Virgin has been joined by Skipton in the loan to income (LTI) changes

The latest lender to bring in the new loan-to-income restrictions is Skipton Building Society.

From Wednesday Skipton Building Society’s maximum loan-to-income (LTI) for applications over 85% loan-to-value (LTV) will be 4.49 times the clients income, but all other loan-to-income (LTI) remain unchanged.

The following restrictions apply:

When the households income is lower than £40,000, max loan-to-income (LTI) is 4.45 times the clients income.

Help to Buy and Shared Ownership cases, max loan-to-income (LTI) is 4.5 times the clients income.

All other residential lending, max loan-to-income (LTI) is 4.75 times the clients income.

After Clydesdale revealed earlier today it was capping loan-to-incomes (LTI) for self-employed borrowers at 4.49 times the clients income, was the announcement made.

Virgin Money, which is part of the same group as Clydesdale, has also brought in loan-to-income (LTI) changes today, although the restrictions are different.

Yesterday, Platform relaunched its mainstream and buy-to-let product ranges.

It also announced that the loan-to-value (LTV) at which its maximum income multiple of 4.85 could be considered would reduce from 75 to 70%.

Last month Halifax capped loan-to-incomes (LTI) for self employed borrowers at 4.49 times the clients income, among other restrictions.