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Dave Harris, CEO at more2life, says the way advisers understand and ascertain client affordability can unlock a wider range of lending options for clients in later life.

The lender now offers three clear groups of bridging loans: residential, commercial and refurbishment.

The lender has hired a regional account manager, proposition and delivery manager, and sourcing and distribution manager.

Firms are being urged to review their systems as new guidance sets the standard for customer vulnerability management.

The lender has also added its 'Age Next Birthday' feature to sourcing systems.

The Society says affordability will now be assessed through a more rounded view of income and outgoings.

OPDA says the review gives brokers a "unique opportunity to deliver transformational change".

The change will allow eligible customers to borrow up to an additional £33,000. 

The North East is the most affordable region, offering best opportunities for shared ownership.

The regulator is also consulting on ways to further modernise pension rules.