The change affects the rates used to calculate affordability by taking a market-based approach. This will allow customers to responsibly borrow more funds than they previously would have been able to.

Tom Simpson, managing director at YBS Commercial Mortgages, said: “By making this change to our affordability criteria we’re significantly increasing the amount of money our borrowers can access, whilst ensuring we remain committed to lending responsibly, which is great news.

“We are committed to providing our broker partners and borrowers with the best possible service in the commercial finance market.

“The progress we’ve made has created a strong platform for us going forwards, and will bring even more enhancements to our offering. 2022 will be an exciting year.”