Market Harborough Building Society has lowered its interest stress testing for residential mortgages up to £5m, including cases for expats.
The change means a lower stress rate for many scenarios, making it easier for more people to access the society’s specialist lending.
As a result, clients can now borrow more, including new buyers, remortgagers, expats, and high net worth individuals.
For example, a household with an income of £100,000 looking for a residential repayment mortgage on a two-year discount rate could now get up to £55,000 more under the new rules.
Iain Smith (pictured), head of mortgage distribution at Market Harborough, said: “Easing our residential stress testing is another step in making our mortgage solutions even more accessible.
“We’re seeing a welcome market shift in how affordability is assessed, and these changes are designed to support more clients with complex needs on top of what we’re already offering, including multi-generational and JBSP solutions, interest-only deals, and no LTI cap across our products.
“It’s all part of our commitment to evolving with the market and listening to our brokers to provide flexible solutions that meet real-world client needs.”
