The stress test changes mean that more borrowers will be able to access the mutual’s lending solutions due to a “boost in affordability”.
The changes will apply to new borrowers, remortgagors, expats and high-net-worth individuals.
For instance, clients with a household income of £100,000 looking for a residential repayment mortgage on a two-year discount rate could now borrow up to £55,000 more under the society’s new stress testing.
Iain Smith, Market Harborough Building Society’s head of mortgage distribution, said: “Easing our residential stress testing is another step in making our mortgage solutions even more accessible.
“We’re seeing a welcome market shift in how affordability is assessed, and these changes are designed to support more clients with complex needs on top of what we’re already offering, including multi-generational and JBSP solutions, interest-only deals, and no LTI cap across our products.
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“It’s all part of our commitment to evolving with the market and listening to our brokers to provide flexible solutions that meet real-world client needs.”
Market Harborough is the latest lender to change its stress test following the regulator’s update earlier this year.
Other lenders include Vida, Leeds Building Society, Newcastle Building Society, Skipton Building Society, Nationwide, Hodge, Accord Mortgages, NatWest, HSBC, Precise and Lloyds Banking Group.
