The lender has adjusted its household expenditure estimates to make its mortgages more accessible to borrowers.
Charles Canning, Managing Director at Accord, said:
“We’ve taken on board broker feedback and made adjustments to our affordability criteria which will now enable us to help a broader range of customers to buy a home, and offer some borrowers a larger loan size.
“We believe that it is important to take a common sense approach to lending and we will continue to thoroughly assess each application because it’s not in anyone’s interest for a borrower to be approved for a mortgage that they are unable to repay.
“Our changes to affordability will make it easier for brokers to position a case, and increase the chances of an application being accepted.”
