New criteria aim to support foreign nationals and buyers using income boosters
Two lenders, Hodge and Gen H, have announced significant changes to their mortgage criteria, aiming to improve accessibility for a wider range of borrowers.
Hodge has expanded its lending criteria for foreign nationals, while Gen H has strengthened its income booster offering to support homebuyers.
Hodge has introduced key updates to its residential mortgage criteria, with the specialist lender increasing the loan-to-value (LTV) ratio to 90%, reducing the UK residency requirement from three years to two, and removing the minimum income requirement for applicants on a visa.
Hodge’s updated policy applies to applicants holding Global Talent, Skilled Worker, Health & Care Worker, and Spousal visas. The lender has also removed the requirement for applicants to have at least 24 months remaining on their visa.
“These changes are designed to make homeownership more achievable for individuals who may have been underserved by traditional mortgage criteria,” said James Enos (pictured left), national account manager at Hodge.
“We’re always striving to make our products accessible to as many people as possible. Our goal is to make homeownership attainable for a wider range of individuals, particularly those who contribute so significantly to the UK economy.”
Meanwhile, fintech mortgage lender Gen H has also made a key update to its mortgage offering, allowing income boosters — who help buyers increase affordability by joining the mortgage without being on the property deed — to live in the home they are helping to purchase.
The lender’s income booster product was launched in 2020, initially allowing only close relatives to participate on mortgages up to 95% LTV. In 2024, Gen H expanded eligibility to include friends on mortgages up to 80% LTV. With the latest change, income boosters who choose to reside in the property will be required to sign an occupancy waiver and obtain independent legal advice.
“Income booster has opened doors not only for aspiring first-time buyers but also for home movers and remortgagers after a life change,” said Karen Appleton (pictured right), head of lending at Gen H. “It’s a powerful tool that we hope will now have an even greater impact as a result of this policy update.
“As always, our brokers are our best bellwether for changes such as this one – they’ve told us what their clients need and we’re glad to deliver.”
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