Atom bank has made a number of changes to its current prime and near prime mortgage products.

The bank has increased its maximum loan-to-income (LTI) ratio from 4.75 to 5.5 times income for mortgage applicants with an income of over £60k per annum, available on products up to 90% LTV on both its prime and near prime range.

Atom bank said this change was made to offer customers a bigger loan, tackling rising house prices and inflation.

The increase applies to both single and joint applications, meaning those who enter into a joint mortgage with a combined income of over £60k can benefit from the changes.

Atom is also making its near prime mortgage product available for more customers by introducing new LTV options of 80% and 85%. It has also reduced its near prime mortgage rates by up to 0.15 percentage points.

Paula Mercer, head of lending at Atom bank, said: “We are delighted to be able to extend our incredible prime & near prime mortgage offering to more customers, by offering these LTI ratio changes and more LTV options.

“Our near prime mortgages are aimed at those with less-than-perfect credit and this allows us to open up the market to those who may struggle securing a mortgage from traditional lenders.

“We recognise that with the rising cost of living and the current energy crisis, having perfect finances is just not possible for everyone and buying a house is becoming increasingly difficult. We want to help make mortgages more accessible to those people and we hope that these changes will enable us to do so.”