The change to income booster eligibility said that friends can act as income boosters on mortgages up to and including 80% loan to value (LTV).

Nieces and nephews can be income boosters on mortgages up to and including 95% LTV.

Other family members who are eligible include parents and step-parents, children and stepchildren, grandparents, siblings, half-siblings and step-siblings and uncles and aunts.

Income boosters act in a similar way to additional borrowers on a joint borrower sole proprietor (JBSP) mortgage as they can increase borrowing power.

However, Gen H’s income booster has a calculation to remove the booster at age 85, so age won’t limit the mortgage term.

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This means borrowers with older boosters, which is common and known as the Bank of Family, can achieve a 30-40-year mortgage term.

A survey of Gen H’s income booster cases found 62.4% of owners with income boosters are under 40, but 37.6% are over 40 and 16.4% are over 50.

Will Rice (pictured), Gen H’s CEO, said: “We’ve seen how many people our income booster product has been able to help. This is why, when our brokers began requesting that friends be able to act as income boosters, we took note.

“I’m delighted to introduce this change, especially in light of two consecutive rate reductions, because it means we’ll be able to support even more aspiring homeowners. This important development is thanks to the attention and advocacy of our broker partners.”

Earlier this month, Gen H lowered home buying bundle rates by up to 0.4%.