Bank of Ireland has announced a brilliant shakeup to its Bespoke mortgage range, increasing maximum income multiples and loan sizes to help more buyers access higher-value properties and lending options that weren’t previously available. The changes should help borrowers with strong affordability, including first-time buyers and high-income professionals who may not fit standard mortgage criteria with other lenders.
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Bank of Ireland Increases Income Multiples to 6x
As part of the update to their criteria, Bank of Ireland now allows eligible borrowers to access mortgages of up to 6 times income through its Bespoke range. This increase from an industry standard of 4.5 times provides greater flexibility for applicants who need that little bit of extra borrowing power, particularly in higher-priced areas of the UK like London.
The updated minimum income requirements are as follows:
- Up to 4.5x income – At least one applicant must earn £40,000
- Above 4.5x up to 5x income – Minimum income of £40,000 (sole) or £50,000 (joint)
- Above 5x up to 6x income – Minimum income of £50,000 (sole) or £75,000 (joint)
For joint applications, Bank of Ireland confirms that at least one applicant must earn £40,000, in line with its Bespoke “golden rules”.
Higher Maximum Loan Sizes Across Key LTV Bands
Alongside higher income multiples, Bank of Ireland has also increased the maximum loan amounts available across several loan-to-value (LTV) tiers:
- Up to £1.25 million at 90% LTV
- Up to £2 million at 85% LTV
- Up to £2.5 million at 80% LTV
These updates to lending limits are particularly helpful for buyers looking to secure homes in areas where property prices are higher, without needing to move into specialist or niche lending.
Who Benefits from Bank of Ireland’s Bespoke Mortgage Changes?
As always, getting first-time buyers onto the property ladder is, and should be, a priority of BOI. But the latest criteria improvements aim to support a wide range of borrowers, including:
- Buyers purchasing in higher-value locations
- High-income professionals seeking flexible lending
- First-time buyers with strong earnings but limited deposit options
- Applicants who fall outside standard mortgage affordability models
By expanding both income multiples and maximum loan sizes, Bank of Ireland is also offering brokers like ourselves at Oportfolio Mortgages greater scope to place complex or non-standard cases under one mainstream lender.
Expert Commentary from Oportfolio Mortgages
New mortgage product changes announced by Bank of Ireland and Accord
Commenting on the announcement, Louis Mason, Marketing and Communications Director at Oportfolio Mortgages, said:
“These updates from Bank of Ireland are a really positive step, particularly for buyers who earn well but struggle with traditional income caps. Increasing both income multiples and maximum loan sizes gives our advisers more flexibility to support clients in competitive and high-priced markets, while still maintaining responsible lending.”
Mortgage Advice for Bespoke Lending
While higher income multiples can unlock more borrowing power, they also require careful affordability assessment and lender knowledge. Criteria can vary significantly depending on income structure, employment type and long-term financial commitments.
Speaking with an experienced mortgage adviser can help ensure the most suitable lender and product is selected, particularly when applying under bespoke or enhanced affordability criteria.
At Oportfolio Mortgages, we work closely with lenders like Bank of Ireland to help clients navigate complex mortgage applications and secure the right solution for their circumstances. Give our team a call today for expert advice.
