Atom bank has increased the maximum loan-to-value (LTV) available on its Near Prime range to 90%.

The Near Prime range includes two, three and five-year fixed rates, with both fee-charging and fee-free options.

The Near Prime products available at 90% LTV start at 6.84% for two-year fixed rates, and 6.69% for both three and five-year fixed rates.

Last year, a host of enhancements were made to the Near Prime criteria, including increasing the acceptable level of unsatisfied registered defaults from £1,000 to £2,500,  raising the permissible level of unsatisfied registered defaults from £250 to £500 for communication and utility bills, while the ‘look back’ period for defaults was cut from three years to two years.

In addition, Atom bank has widened the reach of the Near Prime range through the addition of products with a three-year fixed rate period, and has removed missed payment and arrears management fees, providing a helping hand for borrowers in getting back on track rather than punishing them.

Commenting on the changes Atom head of mortgages Richard Harrison said: “ By raising our maximum LTV for Near Prime mortgages to 90%, we can support far more borrowers, many of whom could be first-time-buyers, to not only purchase their home but take the first steps towards regaining Prime status.”