Accord has made changes its affordability criteria, in a move which it believes will improve the chances of mortgage approvals for brokers and their clients. 

The intermediary-only lender, which is part of the Yorkshire Building Society Group, has adjusted its household expenditure estimates. Accord says it aims to take a more pragmatic view of borrower spending, but will continue to ensure customers will comfortably afford their monthly repayments.

Charles Canning, managing director at Accord, said: “We’ve taken on board broker feedback and made adjustments to our affordability criteria which will now enable us to help a broader range of customers to buy a home, and offer some borrowers a larger loan size.

“We believe that it is important to take a common sense approach to lending and we will continue to thoroughly assess each application because it’s not in anyone’s interest for a borrower to be approved for a mortgage that they are unable to repay.

“Our changes to affordability will make it easier for brokers to position a case, and increase the chances of an application being accepted.”

Nicci Pegg, broker at Prolific Mortgage Finance, added: “This is great news and a positive move for Accord. Accord now provides a more viable option to clients, its strong affordability assessment and competitive pricing make it a worthy contender amongst many other key lenders.”