The move is expected to support an additional 10,000 first-time buyers each year.

High LTI lending by individual lenders can now exceed 15% of their total number of new residential mortgages.

The proposals will result in the LTI flow limit applying to fewer institutions, particularly small, niche lenders.

Sole applicants now need a minimum income of £35,000 to benefit from Helping Hand.

Final rules could be in place as soon as H2 2025.

NatWest has increased its LTI caps to increase access to borrowing.

The government and FCA are considering relaxing mortgage affordability rules to boost first-time buyer lending.