The criteria changes include lowering the minimum income requirement for applicants that have lived in the UK for a minimum of one year to £50,000 for individuals and £75,000 for joint applications.
The bank added that for customers with less than one year in the UK, it would still be able to proceed if they meet the previous minimum income requirement, which was £75,000 for individuals and £100,000 for joint applications or at a maximum loan to value (LTV) of 75%.
Amanda Bryden, head of Halifax Intermediaries and Scottish Widows Bank, said: “The feedback we’ve received shows the market for non-UK nationals wanting to buy a permanent home has been under-served and that there is demand for a greater level of mortgage lending.
“By lowering the minimum income for non-UK applicants, we are increasing the opportunities for homeownership and for brokers to extend the products and services they offer to clients they may previously not have been able to support.”
