Precise Mortgages is now accepting furlough income for residential mortgages at up to 80 per cent of income to a maximum of £2,500 a month.

The lender says that it will also accept employer top-up income as long as it is in evidence.

Borrowers on the self-employed income scheme will have to provide proof of current income, which will be used as part of the affordability check.

Precise will also look at buy-to-let applications from landlords who have income generated outside of BTL and who are either on furlough or the SEIS.

In a blog posted on the Precise website, OneSavings Bank group sales director Adrian Moloney adds that the lender will be honouring pipeline cases.

“This is massive news as it means cases which were submitted pre-Covid-19 will be honoured based on the original criteria,” he says.

“Please bear with us as we work through the pipeline. Looking at cases on an individual basis is really important to us and enables us to make fully informed decisions, resulting in a better journey for your clients,” Moloney concludes.