Northern Rock has increased the income multiples on some of its mortgages.
The increases will apply to Rock's five, seven, 10 and 15-year flexible fixed products and the together five and seven-year fixed products.
Rock is offering 4.3 times single income on its five-year and over fixed-rate together product, 3.25 times joint income or 4.3 times single plus one times the lower income. Its flexible fixed rates of five years and over are now available at four times income, three times joint or four times single plus one times the lower income.
Press officer Jaqualyn Purcell says: “With interest rates at historically low levels, the adjustment to income multiples for fixed-rate products with a five-year or more benefit period will allow those customers who need to borrow slightly more the opportunity to do so while also remaining within affordability levels.
“Longer-term fixed rates also provide them with the peace of mind that their mon-thly payments will be fixed over the longer term.”