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.
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