Longer-term fixed rate lender, April Mortgages, has increased the proportion of bonus, overtime and commission used for affordability from 50% to 80%.
April Mortgages currently offers loan amounts of up to six times income to first time-buyers, homemovers and like-for-like remortgages on its range of five-to-15-year products.
This change will help borrowers with variable income benefit from an increased borrowing amount, with April’s AffordAbility+ offering boosting maximum loan values by up to 25% with a 10 or 15 year fixed-rate product.
James Pagan, director of product and portfolio at April Mortgages, commented: “Affordability remains the hot topic across the mortgage industry with first-time buyers and those looking for a bigger home struggling to access the loans they need.
“Having listened carefully to broker feedback, we understand this is an area where April’s unique proposition can make a real difference to UK homebuyers.
“We’re delighted to bring this change to the market to further strengthen our growing offering and support borrowers with variable incomes to afford the home they need.
“We’ll still give all brokers an instant decision in principle before our bespoke underwriting looks at each case individually, giving clients more opportunities to borrow what they need."
