Atom Bank has increased the maximum loan to income (LTI) ratio from 4.75 to 5.5 for applicants earning £60,000 a year or more.
This will apply across its prime and near prime mortgage ranges and will be available on products up to 90 per cent loan to value (LTV).
Single and joint applications will be eligible for the increased LTI limit meaning those seeking a joint mortgage with a combined income of over £60,000 will benefit.
Atom Bank has also added 80 and 85 per cent LTV products to its near prime range which is open to those with county court judgments, missed payments and defaults.
Additionally, rates have been reduced by up to 0.15 per cent across its near prime mortgage range.
Paula Mercer (pictured), head of lending at Atom Bank, said: “We are delighted to be able to extend our incredible prime and near prime mortgage offering to more customers, by offering these LTI ratio changes and more LTV options.
“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.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
