Accord Mortgages is offering borrowers the option to take out a mortgage from its standard residential range with the help of an immediate family member.

The joint borrower, sole proprietor option applies to Accord’s standard residential mortgage products for home purchase, including newbuild and offset. It is not available on the lender’s Cascade Score, Boost LTI, Deposit Unlock products or interest-only lending.

It allows applicants to factor the income of an immediate family member, into the affordability calculations related to their mortgage.

Only one applicant owns the purchased property, though both borrowers are jointly responsible for making sure the mortgage payments are met.

The minimum income requirement for the property owner is £20,000 and there is a maximum of two applicants per mortgage.

Accord’s senior manager mortgage distribution Nicola Alvarez, comments: “The reality is that affording a mortgage as a single person continues to be challenging.

“As a result, a growing number of potential borrowers need support from family members to be able to buy their own homes so we’re delighted to launch our first proposition of this kind.”