The Mortgage Lender (TML) will now accept family gifted equity applications up to 75% loan to value (LTV).

It has also improved its contractor criteria across six of its product tiers, citing market demand.

Gifts from parents, grandparents, siblings, aunts and uncles – including step and adopted relationships will qualify.

Applications from contractors will now be assessed on their contracted rate, with a 48 times weekly rate multiple, up to an LTV of 85%.

New contractors with a minimum of three months proof of contractor income, will also be considered up to 75% LTV.

Pete Thomson (pictured), sales and marketing director at The Mortgage Lender, said: “Our sales team were being asked almost daily if we could consider applications with family gifted equity, so we’ve worked hard to do something about that and fulfil market demand.

“We continue to listen to intermediaries to make sure our products remain relevant and competitive, which will put us and our introducers in a strong position to benefit from increased demand for innovative lending solutions.”

“These criteria changes put The Mortgage Lender in a position we feel makes us one of the most flexible in the market and more attractive to certain segments.

“We constantly ask the market to challenge us to improve and create the products they need. Here is proof that we do more than just listen – we also respond.”