"These are all positive changes that could make a real difference to brokers’ clients, whether they’re buying their first home, remortgaging to us, borrowing more or moving house."
The living costs of financially independent adults living in the property will no longer be taken into account when calculating the maximum loan amount, but child benefit will now be considered.
Additionally, fewer items are now considered ‘essential living costs’ when calculating expenditure.
Kevin Purvey, director of intermediaries, said: “These are all positive changes that could make a real difference to brokers’ clients, whether they’re buying their first home, remortgaging to us, borrowing more or moving house.
“We’re confident that we’re now even more competitive in the residential market. If brokers have specific cases they didn’t think we’d be able to help with before, we’d encourage them to try our affordability calculator now these changes have been applied.”
