Coventry for Intermediaries has altered its affordability model to help more residential clients.

It says its changes could make a “real difference” to the maximum amount clients could borrow, especially those earning from £25,000 to £70,000.

For financially independent adults living in the property, their living costs are no longer taken into account when calculating the maximum loan amount.

In addition, the affordability model now takes child benefit into account when calculating the maximum loan amount.

Meanwhile, with expenditure calculations, fewer items are now considered ‘essential living costs’.

Kevin Purvey, director of Intermediaries, said: “These are all positive changes that could make a real difference to brokers’ clients, whether they’re buying their first home, remortgaging to us, borrowing more or moving house.

“We’re confident that we’re now even more competitive in the residential market. If brokers have specific cases they didn’t think we’d be able to help with before, we’d encourage them to try our affordability calculator now these changes have been applied.”