Intermediary-only lender Aldermore is now accepting first-time buyers with a loan-to-value of up to 80 per cent.
The move to accept first-time buyers is one of a number of changes the lender has made to its range, including increasing the maximum loan size available from £400k at 80 per cent LTV to £600k at 75 per cent LTV.
Buy-to-let applicants are now allowed to apply for finance on two properties, whereas before the lender only accepted one property per application.
The lender has introduced two new two-year fixed-rate mortgages, available up to 80 per cent LTV with rates beginning at 4.78 per cent, and three and five-year fixed-rates have been improved, with rates starting from 4.88 and 4.98 per cent respectively.
Aldermore residential mortgages chief executive Colin Snowdon says: “Our proposition is to help creditworthy borrowers with non-standard mortgage requirements and the enhancements being announced today enable us to help a wider range of applicants, including first time buyers and buy to let landlords who want to finance one or two properties.
“We have also increased our maximum loan sizes to help borrowers in higher house price areas such as London and the South East and we’ve introduced a new two-year fixed-rate. These changes, combined with our existing two-year discounts, which start from 3.98 per cent, and our recently launched limited edition range, mean that we are able to satisfy an even wider range of client needs.”