Lloyds Banking Group Adds £4 Billion to Mortgage Lending for First‑Time Buyers with High Incomes

Lloyds Banking Group Adds £4 Billion to Mortgage Lending for First‑Time Buyers with High Incomes

(IN BRIEF) Lloyds Banking Group is increasing its First Time Buyer Boost by £4 billion, raising the loan‑to‑income cap to 5.5 times earnings to help more high‑LTI first‑time buyers secure mortgages. Since August 2024, the scheme has supported 11,000 new homeowners with over £4 billion in lending, and post‑April affordability revisions have enabled an extra 3,000 buyers to qualify. A household earning £50,000 with a 10 percent deposit can now borrow up to approximately £275,000—22 percent more than before. To qualify, applicants need a minimum £50,000 income, up to 90 percent LTV, and must not use shared‑equity models. The Boost is available through Lloyds Bank and Halifax via all application channels.

(PRESS RELEASE) LONDON, 17-Jul-2025 — /EuropaWire/ — Lloyds Banking Group today announced it will unlock an additional £4 billion in mortgage lending for high loan‑to‑income (LTI) first‑time buyers (FTBs), following recent regulatory reforms. The expanded support builds on the success of the First Time Buyer Boost, available through Lloyds Bank and Halifax, which since its August 2024 launch has enabled over 11,000 households to borrow more than 4.5 times their income—totaling £4 billion in loans.

Under the enhanced scheme, the maximum LTI multiple rises to 5.5× income. For example, a household earning £50,000 with a 10 percent deposit could increase its borrowing capacity from approximately £224,500 to around £275,000—a 22 percent uplift. Since clarifying mortgage stress‑test rules in April, Lloyds has already helped 3,000 additional buyers—1,000 of them first‑timers—secure financing they previously couldn’t access.

Andrew Asaam, Homes Director at Lloyds Banking Group, commented, “Taking that first step onto the property ladder can feel daunting. Our Boost scheme stretches incomes further, helping more customers get the keys to their first home.” To date, Lloyds Bank and Halifax have supported over 500,000 first‑time buyers with more than £100 billion in mortgages since 2018.

Eligibility for FTB Boost requires a minimum combined employed income of £50,000, up to 90 percent loan‑to‑value, and is open to standard purchase applications (excluding Shared Ownership or Shared Equity). The offer applies across all channels—online, phone, in‑branch, and via intermediaries—with no additional steps for brokers or advisers.

Media Contact:

Jason Clarke
jason.clarke@lloydsbanking.com
07385 389 293

SOURCE: Lloyds Bank plc