Market Harborough enhances residential criteria with increased income multiples

Market Harborough Building Society has enhanced its residential product criteria, with more scenarios now eligible under its tier two products. 

The updates are designed to give brokers greater flexibility and help more clients to benefit from the Society’s lower tier rates.

The enhancements follow feedback from brokers via the Society’s Lending Advisory Panel, which held its inaugural meeting on 24th July. The changes make it easier for brokers to place a broader range of client scenarios, including expat applications.

Key updates include increased income multiples, with up to 6x income now included in tier two products and over 6x income available in tier three products (subject to affordability).

Affordability supported by savings are now accepted under tier two products, alongside complex income criteria that includes vested share income.

The changes follow the Society’s recent decision to relax residential stress testing across cases up to £5m. 

Iain Smith, head of mortgage distribution at Market Harborough Building Society, said: "These changes are a direct result of broker feedback, and we’re proud to be acting on it quickly. Expanding our tier two criteria means more clients can benefit from better rates, including expats and those with complex income. This reflects our ongoing commitment to being best for brokers. We’re focused on doing the right thing for them and their clients, and that means regularly listening to feedback and acting on it.”