The specialist lender says the option applies to its complex prime and credit repair ranges and will serve to “ease affordability issues on mortgage applications”.

Jason Neale (pictured), sales director at Magellan Homeloans, said: “As a specialist lender with flexible underwriting, we are often approached to find solutions for borrowers who are struggling to qualify for the strict affordability rules of high street lenders.

“Quite often there is scope to include multiple applicants and the overall household income when assessing affordability, so we are delighted to now include up to four applicants and their respective incomes on all applications.”

Messy payers

It is the latest change made by the lender following an overhaul in June which saw it adjust its criteria to cater for so-called “messy payers” – customers with recent small credit challenges on their record.

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Speaking about the decision to open criteria to such borrowers, managing director Simon Read said: “There’s nothing structurally underlying wrong with them, they’re just always late paying and it might be they’ve got complicated incomes or they are not great at managing their debt. They do always pay it, it’s just not always on time.”