West One Loans has launched a range of limited edition 95% loan-to-value (LTV) products.

The range will be available for first-time buyers only, with rates starting at 8.19% and zero lender fee options available.

The changes mark the first time that the lender has ever lent to 95% LTV.

The lender’s 95% LTV range offers loan-to-income ratios of up to five times income and loan sizes of up to £500,000.

It allows for defaults and satisfied CCJs of up to £500. In addition, it will accept one satisfied CCJ, unsatisfied default or satisfied default of more than £500 if it was registered more than 36 months ago.

West One has also made changes to its Prime Plus Higher LTV credit eligibility criteria.

It will now only include 90% and 95% LTV products, compared with 85% and 90% LTV before.

The lender has also introduced a zero lender fee option for its 90% LTV range, and is increasing its LTVs for its Prime Plus Core products from 75% to 80% while Prime Plus LTI Boost products will change from 75% to 80%.

The Prime Plus LTI Boost range offers uncapped LTIs for borrowers with a minimum household income of £50,000.

For its Prime Plus Higher LTV and Prime Plus Core options, the lender will now consider CCJs of more than £5,000 by referral or they can be placed on its Prime or Near Prime plans.

West One Loans managing director of residential mortgages and second charges Marie Grundy says: “We are thrilled to announce the launch of our first-ever 95% LTV mortgage range, tailored to assist first-time buyers who may find it difficult to raise a substantial deposit.”

“These limited-edition products will be particularly beneficial for those with minor credit blips who still demonstrate strong creditworthiness, helping them take that vital first step onto the property ladder.”