The Mortgage Lender (TML) has made a number of changes to its product offering.

It will no longer cascade based on credit score, is increasing the maximum LTV for first-time buyers to 85%, increasing its maximum loan amounts at certain LTVs and improving its new build proposition.

The lender says that removing its cascade based on credit score will give intermediaries certainty on the product rate offered to applicants based on their credit profile and published criteria.

The new product range consists of three product categories. Rates start from 2.89% for two-year fixed, and 3.35% for five-year fixed.  There are also two-year tracker rates available, starting from 2.99%.

Meanwhile, new build applications can now be considered up to 85% LTV and new build offers will now be valid for six months, subject to valuation/reinspection. There is also a maximum 5% builder-gifted deposit/incentive allowed up to a maximum LTV of 85%.

In addition, maximum loan amounts have been changed. Up to 75% LTV, they have risen from £800,999 to £1m; to 80% LTV, from £600,000 to £750,000 and to 85%, from £400,000 to £600,000.

Peter Beaumont (pictured), deputy chief executive of The Mortgage Lender, said: “Our purpose is to lend and intermediaries have told us there are a number of areas where we can make it easier for them to work with us.

“The new range is clear and concise, delivering what intermediaries asked for. Our changes demonstrate that we are listening to our introducers and show our determination to work in collaboration and have a product range that suits today’s borrowers.”