Gen H has streamlined how it calculates affordability for income booster cases.

The lender said this is best exemplified in its upgraded affordability calculator, designed to simplify the application and advice process for brokers.

Previously, brokers had the ability to key specific financial contributions from boosters which would inform the maximum loan size available to their clients. Now, Gen H’s affordability calculator automatically shows the maximum loan size for the entire buying group, whilst displaying what the lender estimates the owners can afford on their own.

Once brokers have run affordability, Gen H’s calculator presents all applicable products, helping brokers find suitable products for their clients faster than ever.

The calculator also automatically incorporates Gen H’s proprietary “ejector seat” calculation, which allows boosters to come off the mortgage before they reach the lender’s maximum age – unlocking the longer mortgage terms that many buyers need to afford a mortgage.

Gen H’s income booster allows up to six applicants from multiple households on a mortgage with LTVs up to 95%. Income boosters don’t need to contribute to the monthly payments unless the homeowners stop making payments. But if they choose, they can contribute and build equity in the property.

Pete Dockar, Gen H chief commercial officer, said: “To drive real change in the housing and mortgage markets, we need to support both our broker partners and their clients. By simplifying our max loan size calculation and providing all suitable products within the calculator itself, we optimise borrowing for even more aspiring homeowners and empower our broker partners to give the best possible advice. The more transparency and information we can provide, the better we’re able to serve our customers.”