Halifax will be offering 90 per cent LTV products for first-time buyers as of 8 December.

The lender says that the product will only be available for FTBs and that new build properties will not be included, along with any schemes.

The maximum loan to income ratio is set at times 4.49 and the maximum loan amount, £500,000. Halifax will also be applying an ‘enhanced’ credit score requirement for all applications.

As well as this, the lender will be deducting any credit card commitments as ongoing in its affordability calculation.

Further criteria and other details will be made available by 8 December, Halifax says in a note to brokers.