18 Jul 2025
Lloyds Boost Lending for First-Time Buyers
Lloyds Banking Group has jumped on the bandwagon to boost lending for first-time buyers as they allocate an additional £4 billion to help first-time buyers onto the property ladder.
The first-time buyer Boost scheme (offered through Lloyds Bank and Halifax), was first launched in August 2024. According to the banking giant, this scheme has already helped over 11,000 people buy their first home by allowing them to borrow more than the usual 4.5 times their income.
As the Loan to Income (LTI) cap has been increased to 5.5 times income, applicants who fit the criteria could borrow up to 22% more. For example, a household earning £60,000 could borrow a maximum of £330,000, previously this would have been around £270,000.
To be eligible for the First Time Buyer Boost, you must:
- Have a combined household income of a minimum of £50,000
- Have a deposit of 10% or more
- One person must be a first-time buyer
- Be employed, not self-employed
To find out more and see if you fit the criteria, get in touch with our independent mortgage experts: 01628 507477 | team@mortgagerequired.com.
Recent posts
Delayed Start Mortgages
Today
The new Delayed Start Mortgage launched by Skipton Building Society allows first time buyers to postpone the first three mortgage payments. This product has been designed to help soften the blow of moving in costs for first time buyers.
Green Mortgages | Rewards and Benefits
2 days ago
Mortgage lenders are starting to recognise their “Green” responsibilities when it comes to the different products they offer.
A recent study by Boon Brokers where 1,000 people who had used an estate agent over the last year were surveyed, showed that a whopping 52% said they were pressured into using the estate agents’ in-house mortgage broker.
When will mortgage rates fall further?
12 days ago
Analysts are predicting further rate cuts this year, with the next one possibly coming down to 4% when the Bank of England’s Monetary Policy Committee meet on Thursday 7th August 2025.
The Financial Conduct Authority (FCA) has shared new changes to mortgage rules with the aim to simplify remortgaging, and encourage competition within the mortgage market.
The government is introducing mortgage reforms to boost homeownership, stimulate economic growth, and make the housing market more accessible, especially for first-time buyers.
Chancellor Rachel Reeves has announced the most significant mortgage reforms in over a decade—great news for those dreaming of homeownership.
Nationwide ease criteria for first-time buyers
22 days ago
Nationwide ease their ‘Helping Hand’ mortgage designed to help first-time buyers get onto the property ladder by allowing them to borrow up to six times their income.
Ways to save money over the summer holiday
28 days ago
Keeping the kids entertained over the six-week summer holidays isn’t always easy, especially with the cost-of-living making it even more difficult. Below is a list of fun, inexpensive ideas to do over the break
More information
Trusted by
