The changes mean the average borrowing capacity has now been increased, by an average of 9%, but could be higher depending on customer circumstances.

The process now includes reductions to assumed living expenses and costs for dependents, as well as updating income tax and national insurance contributions.

This is in addition to child commitments, which it already excludes in calculations.

OSB Group intermediary sales director Adrian Moloney says: “I’m really pleased we’re now able to offer greater affordability through these calculation updates which are backed up by the strong residential range which we launched last week in Precise.”

“These changes underpin our commitment to helping our brokers navigate around the inflationary pressures that affect their residential customers’ affordability and is an area that we’ll continue to focus on.”