Furness Building Society has launched the first phase of a mortgage transformation programme, widening criteria to improve access for complex borrowers and landlords.

The changes include 95% LTV lending for applicants with non-standard income, including day-rate and fixed-term contractors, limited company directors, business owners with just one year’s trading and professionals from day one in a new role. The criteria also extend to new-build and shared ownership purchases.

In the buy-to-let space, the Society now offers 80% LTV across regulated BTL and holiday let products, alongside 75% LTV on short-term lending.

Furness says the enhancements are designed to remove unnecessary barriers for borrowers who fall outside traditional lending models, while maintaining its manual underwriting approach. Further updates are expected later this year.

REWORKED CRITERIA

Jon Cartlidge (main picture), head of member and broker strategy at Furness Building Society, said: “Brokers tell us they need lenders who understand the nuance behind today’s mortgage applications – and that’s exactly what our transformation project will deliver.

“We’re reworking our criteria to give intermediaries and their clients more confidence when placing complex cases, without compromising on responsible lending.

“Combined with our experienced manual underwriting team, these changes mean brokers can have earlier, more meaningful conversations with us and get clearer outcomes for their clients.”