The society says the move is designed to help homeowners looking to manage their finances through remortgaging.

In addition, gifted deposits will be accepted on credit repair cases to help more families support loved ones with their homeownership plans.

Further updates include standardising downsizing criteria across the UK, with a minimum equity requirement of £200,000 regardless of location, and removing the maximum age limit on buy-to-let (BTL) applications.

Mansfield Building Society intermediary sales manager Tom Denman-Molloy says: “Improving access to mortgage finance remains a core focus for us, particularly in areas where borrowers can often find themselves excluded by mainstream criteria.”

“These latest updates are designed to offer greater flexibility on cases such as debt consolidation, credit repair, and later life lending.”

“These criteria enhancements give advisers additional ways to secure good outcomes for clients who may not tick the traditional boxes but still represent common sense lending opportunities.”