Minimum income reduced for First-Time Buyer Boost.
GBP9 billion extra mortgage lending made available since launch.
More help for self-employed.
Lloyds Banking Group will make a further GBP1 billion of lending available to first-time buyers (FTBs) by reducing the minimum household income required for First Time Buyer Boost (FTB Boost), meaning even more people can borrow up to 5.5x their income with Lloyds or Halifax, the UK's leading First Time Buyer lender*.
More first-time buyers get a Boost
The Group had already increased the amount that a typical family could borrow by around GBP38,000 as a result of changes to affordability assessments in April**. Today's announcement will see the minimum household income needed to qualify for FTB Boost reducing from GBP50,000 to GBP40,000.
Increasing the Loan to Income (LTI) available for these customers to 5.5x (from 4.49x) will increase the maximum loan available by 22%. For example, a customer with GBP40,000 income and 10% deposit can now borrow GBP220,000, up from GBP179,600. Through this change, another GBP1 billion of mortgage lending is available to First-Time Buyers.
Since launching First Time Buyer Boost in August 2024, over GBP8bn*** of lending has been pledged to help First-Time Buyers, with over 15,000 able to get on the ladder quicker through higher LTI lending.
Today's GBP1 billion commitment takes us to a total of GBP9 billion specifically to help people get on the ladder quicker. We understand the difference this can make to First-Time Buyers, having lent more money to more aspiring homeowners than any other bank so far this year, and we're really pleased to be able to offer what they need in a responsible and sustainable way. We are making better lending decisions for those who can genuinely afford to borrow more.
Andrew Asaam Homes Director at Lloyds Banking Group
Extra help for self-employed
Self-employed First Time Buyers will now also be able to access FTB Boost, with the Loan to Income available for self-employed customers aligned to those who are employed, meaning those with lower deposits will also be able to borrow 5.5x their income.
These changes are effective from 5th December 2025.
CACI Ltd's Mortgage Market Database, Residential Mortgages total lending Jan - Sept 2025 inclusive.
**In April, the FCA clarified its guidance to enable lower stress rate assumptions, which form part of the buffer that lenders use in affordability calculations.
***Following an initial GBP4bn provided to aspiring homeowners, an additional GBP4bn was made available as part of the Leeds Reforms announced in July 2025 which saw the Prudential Regulatory Authority (PRA) change from lender specific requirements on higher LTI lending to looking at this lending as a proportion of the total across the mortgage market.
