With immediate effect, the mutual will consider applications for new-build houses up to 90 per cent loan to value (LTV), new-build flats including one-beds up to 85 per cent LTV and second-time owner flats including one-beds up to 95 per cent LTV. 

This move comes following the launch of Deposit Unlock, a reinsurance-backed scheme to provide a lending option for new-build properties at 95 per cent LTV. 

Additionally, the Tipton has reduced its minimum loan from £150,000 to £100,000. Earlier this month, the mutual increased income multiples to 4.49 for both joint and individual borrowers. 

Jason Newsway, sales and marketing director at the Tipton, said: “We continue to listen to brokers about their customer’s needs.   

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“These latest criteria changes are therefore designed to help make it easier for customers to secure a mortgage whether that is for a new-build house or flat and second-time owner flat.”