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07 September 2015, HSBC for Intermediaries

Change to our salary multiples policy

With effect from 7 September 2015, we no longer have a blanket salary multiple of 4.75 times gross income.

For responsible lending purposes, we have now defined the following two-tier maximum income multiples for residential mortgage applications:

  • For LTVs greater than 75%, the maximum is 4.75 times gross income (joint income)
  • For LTVs of 75% or less, the maximum is now 5 times gross income (joint income)
 

Please bear in mind that these are maximum multiples. Actual affordability is calculated based upon an individual customer's circumstances.

For more details on how we assess employed income, please see our lending criteria.

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