Accord Mortgages has lowered the minimum income to £50,000 — from £60,000 — for customers who want to borrow more than 4.49 times their loan-to-income.

The Yorkshire Building Society’s broker-only unit says the criteria change applies to mortgages up to 90% loan-to-value, including new build houses and flats, for which the maximum LTV was previously 85%.

It says the move will allow borrowers with a household income of £50,000 to borrow up to five times their income; except for the firm’s Boost LTI product, for which the earning threshold for borrowing 5.5 times LTI, up to 90% LTV, will remain at £60,000.

The business adds that it has also increased the maximum LTV for new build home purchases using its Boost LTI product, from 85% LTV to 90%.

Accord senior manager, proposition development, Nicola Alvarez says: “This change — which is the latest example of Accord’s common-sense lending — will help brokers in their vital role to find solutions for even more clients, recognising the affordability challenges faced by so many, providing them with increased flexibility to achieve their borrowing goals in today’s challenging mortgage market.”