British mortgage broker offers home loans up to five times applicant's salary to key sector workers

A BRITISH mortgage broker has launched a home loan which will lend up to five times someone's salary in a bid to help key sector workers get on to the property ladder.

Traditionally, lenders will only offer a mortgage of around 3.25 times a person’s income, but The Market Place at Bradford & Bingley said it would lend up to five times someone’s annual salary providing they earn at least £20,000.

The group said the increased multiple, which is available to key sector workers and also to young professionals, reflected the greater job security of workers who are employed in the public sector.