The criteria enhancements broaden the type of properties which could qualify for the Standard Life Home Finance Horizon range.

Standard Life Home Finance’s Horizon range provides lump sum and drawdown options, available at a range of LTVs, including clients with high property values. It includes fixed early repayment charges for eight years, with loans available from £15,000 to £1.5m.

On lump sum plans, clients can take advantage of Horizon Interest Reward, allowing them to secure an interest rate discount for the duration of the lifetime mortgage when committing to making set monthly interest payments for a specified term.

The criteria changes cover a range of areas, including: for residency – remortgages within six months of the last purchase date may be considered subject to a suitability assessment.

For roofing – roofs which have previously been treated internally or externally with spray foam will be acceptable, so long as it has been removed prior to completion. There are further requirements provided on referral.

For service charges, estate charges and ground rent – positive updates including amendments to what can be considered as maintenance under the estate charge and amendments to private drainage.

Proximity to commercial properties – Standard Life Home Finance will consider cases where there is a commercial presence within the vicinity of the property, based on assessing the locality and nature of the commercial unit and its impact on the property.

Standard Life Home Finance head of sales Sanjay Gadhia commented: “These criteria enhancements have been introduced following close discussions with our adviser partners, and address a clear need among their clients.”