Regulators scrap the lender-by-lender 15% cap on high loan-to-income mortgages from 28 October

The Prudential Regulation Authority and the Financial Conduct Authority confirmed on 14 October that, from 28 October 2026, individual lenders will no longer be held to a 15% share of new mortgages at 4.5 times income or more. The 15% limit now applies across the market as a whole, so lenders that want to do more high-multiple lending can use room that others leave unused. For buyers, particularly first-time buyers stretching on income rather than deposit, this could mean more lenders willing to lend at 4.5 times income and above; for sellers, it may modestly widen the pool of buyers able to borrow enough to proceed. It does not loosen affordability checks or change the 4.5 times threshold, and at current fixed rates, monthly repayments rather than the income multiple remain the binding constraint for many households.