"Some of the changes we are making reflect the way people work today, others are driven by our latest risk assessments"
The criteria changes will be available from tomorrow and will enable zero-hours contracts with 12 months’ history to be considered as well as the total income from a second job and 50% of certain State benefits.
Contract workers will need 12 months' history and self-employed borrowers will need to provide two years' accounts.
Vernon is also making its self-build products available up to 80% LTV and new build up to a maximum LTV of 85%.
Intermediary sales manager, Tom Gurrie, said: “Modern life constantly changes and so too should mortgage lending criteria.
“Some of the changes we are making reflect the way people work today, others are driven by our latest risk assessments but all are centred on flexible, responsible lending and supported by personal service and individual underwriting.”