Reliance Bank has increased the amount of income accepted in its affordability assessment for 15 types of benefit and maintenance income, including child benefit, which will improve customers’ borrowing ability.
The amount of income accepted for the range of allowances has increased from 60 per cent to 75 per cent.
The allowances that have been increased include adoption allowance, carers allowance, constant attendance allowance, child benefit, child tax credit, disability living allowance, universal credit (excluding housing benefit), employment and support allowance, foster care allowance, guardian allowance, industrial injuries disablement benefit, maintenance, personal independence payment, working tax credits and widowed parent allowance.
Gareth Byrne, head of mortgages at Reliance Bank, said: “I am delighted that we have been able to get the criteria update introduced to help further demonstrate how Reliance Bank looks to help those applicants who rely on benefit income and maintenance income for affordability.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
