A MAJOR mortgage lender has made a big change to its rules that will help more people get on the housing ladder.
Halifax has made changes to its affordability rules that means buyers will be able to borrow more.
UK house prices surged to a new record high this month, meaning first-time buyers are having to stump up even more money to get on the ladder.
The average asking price for a home hit £377,182 in April, according to the latest data from Rightmove.
But more mortgage lenders are moving to help first-time buyers with schemes to make buying a home more affordable.
At the same time, two major banks have cut their mortgage rates below 4% in another boost for buyers.
Halifax has now reduced the stress rates used in its standard affordability calculation …