Atom bank has made a number of changes to its Prime and Near Prime mortgage ranges.

The lender has increased the maximum loan-to-income (LTI) ratio for potential borrowers with an income of over £60,000 from 4.75 times income to 5.5 times income.

This counts for both single and joint applications, with combined income over £60,000 qualifying.

As well as this, Atom has introduced new LTV options of 80% and 85% to its Near Prime range and cut rates here by up to 15 basis points.

Atom head of lending Paula Mercer comments: “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.”

Earlier this month, Atom raised more than £75m in a round of funding, with the bank saying it is eyeing an initial public offering.