income lifter mortgage
Borrow up to 5.5 times your income. That extra money could make all the difference.
Your home may be repossessed if you do not keep up repayments on your mortgage.
What is an Income Lifter mortgage?
It’s a mortgage that lets you borrow more. Subject to meeting criteria a standard mortgage could let you borrow up to 5 times your household income.
Our Income Lifter mortgage lets you borrow up to 5.5 times, if:
your household earns £50,000 a year or more - applies to home mover and remortgage customers
you do not already have a YBS mortgage.
It’s available for:
buying your first home
moving home
moving your mortgage to YBS (remortgaging).
How does it work?
Here’s an example
A couple are looking to buy their dream home. They have:
a joint income of £50,000 a year
a 10% deposit
The amount you could borrow is subject to standard affordability and lending criteria.
Comparing a standard mortgage to an Income Lifter mortgage.
Type of mortgage
Standard: 5 times income
Income Lifter: 5.5 times income
Amount they could borrow
£250,000
£275,000
With an Income Lifter mortgage, they could borrow £25,000 more.
Is Income Lifter right for me?
It could be right for you if:
you need to borrow more than 5 times your income
your household earns £50,000 or more a year
you do not already have a YBS mortgage.
Things to consider:
rates will be higher than a standard mortgage
not available in Northern Ireland
you can only apply over the phone
you need to meet our lending criteria.
How do I get an Income Lifter mortgage?
Get a Decision in Principle (DIP)
Call us on 0345 166 9510 for a Decision in Principle (DIP) to find out how much you could borrow.
You may need a DIP to make an offer on a home.
Apply for a mortgage
Complete a full application online or over the phone.
Get your mortgage offer
We'll value your home and check your credit history. Then we'll be in touch within 15 working days.
Complete
Once the legal work is complete, you’ll exchange contracts if you’re moving home. Or you’ll move to your new mortgage deal if you’re remortgaging.
Get a Decision in Principle
You’ll need to call us for a Decision in Principle.
Get an instant decision over the phone
Valid for 90 days
Does not affect your credit score.
Talk to our mortgage specialists.
Calls to 03 numbers are charged at the same rate as 01 or 02 numbers from all phones.