West Brom Building Society has introduced a range of changes to its mortgage lending criteria aimed at making home buying more accessible, especially for those with smaller deposits.

From today, eligible customers with a 10% deposit may be able to borrow up to 27% more, thanks to higher income multiples being made available on lending up to 90% loan-to-value (LTV).

Borrowers with a total application income over £50,000 will now be able to borrow up to 5x their income, while those earning over £75,000 will see their income multiple increase to 5.75x, both up from 4.5 x previously. The move is designed to support borrowers with smaller deposits into home ownership.

Gareth Madeley, Head of Product at West Brom Building Society, said: “We’re always looking at ways to make home ownership more accessible for our customers. By extending higher income multiples on lending of up to 90% LTV, we’re giving customers the opportunity to access more funds, and for some, that could mean the difference between being able to own a home or not.

“With affordability remaining a stretch for many this move will enable more first-time buyers and next time buyers to own the home they want, and we’re really supportive of that, providing it’s done in a way that remains affordable and responsible.”

In addition to the increase in income multiples, the West Brom is also increasing the amount it will lend at 90% LTV from £500,000 to £750,000, with lending at 95% LTV increased from £400,000 to £600,000.