April Mortgages has increased the proposition of bonus, overtime and commission used for affordability from 50% to 80%.
The lender currently offers loan amounts of up to six times income to first-time buyers, homemovers and like-for-like remortgagers on its ranges of five- to 15-year products.
The change has been made to help borrowers with variable income benefit from an increased borrowing amount, with the lender’s AffordAbility+ offering to boost maximum loan values by up to 25% with a 10- or 15 year fixed-rate product.
April Mortgages director of product and portfolio James Pagan says: “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.”
