Accord will now accept Universal Credit as a source of income when assessing affordability.

The lender has also reduced the minimum income requirement to £40,000 for customers seeking to borrow at 4.5x LTI and above.

Bola Anike, mortgage and insurance broker at Elmgrove Financial Services, says lenders' strict criteria are locking first-time buyers out of the housing market.

By typing in their case query, brokers receive instant suggestions on criteria areas to explore.

Over 6x income is now available on selected products.

Residential and buy-to-let rates have reduced by up to 0.54%, alongside improved affordability.

The latest mortgage enhancements support skilled overseas workers and landlords.

The changed policy follows yesterday’s series of five and 10bps price cuts to a range of five-year fixed-rate limited company products across 55%, 65% and 75% LTV levels.

The criteria search fintech aims to enhance lender and broker collaboration.

The Society has enhanced its lending criteria for foreign nationals, expats, and downsizers.