Atom bank has made improvements to its maximum loan to income (LTI) ratio and loan to value (LTV) limits.

It has increased maximum LTIs for employed applicants with an annual income of £75,000 or more. For loans at 90% LTV or less, Atom bank will now lend up to six times the applicant’s income, while for those looking to borrow at above 90% LTV, Atom bank will lend up to 5.5 times the applicant’s income.

In addition, Atom bank has increased the maximum LTV available on flats, new-build flats and new-build houses in London and the South East.

For both existing flats and new-build houses, the maximum LTV has risen from 90% to 95%, while for new-build flats the maximum LTV has increased from 80% to 90%.

Richard Harrison, head of mortgages at Atom bank, said: “First-time buyers are the lifeblood of the housing market – without them, it doesn’t function properly. Yet would-be buyers face two significant challenges today, first in saving the initial deposit and then meeting affordability requirements, which can restrict the sums they can borrow.

“These changes are aimed at addressing those challenges, and mean we can support far more prospective buyers, both first-time buyers and those looking to move up the ladder. Higher LTI caps are an effective way to lend responsibly to those who can truly afford the repayments, not just now but in the years to come, while the new LTV caps for properties in the South East will open up properties in this particularly pricey region to more buyers.

“Atom bank has built a reputation for delivering what brokers and their clients truly need. We will continue to look for ways we can deliver lending that is faster, smoother and better value for money for mortgage borrowers.”