The decision will enable customers to borrow up to £35,000 more.

The Society has improved affordability across its mortgage ranges.

The Office for National Statistics (ONS) has released its latest housing data showing a return to pre-pandemic levels of affordability in England and Wales for the year 2024.

Mortgage repayments now account for 37% of the average borrower's salary.

The Society has also expanded its range of assessable benefits.

The changes could enable landlords to borrow more when buying or remortgaging a buy-to-let property.

Tom Denman-Molloy, intermediary sales manager at Mansfield Building Society, says that given the ongoing affordability challenges faced by many borrowers, it is vital that lenders...

Ashley Pearson, head of intermediaries at Loughborough Building Society, says the challenges around mortgage affordability look set to remain in 2025 and beyond and explores the...

The regulator says it wants to "consider further improvements quickly".

The new tool offers brokers a quick and efficient way to determine affordability.