TSB has increased the maximum loan-to-value on flats and maisonettes to 90% LTV.

The lender has also brought in a new maximum loan size of £500,000 on flats where the LTV is higher than 85%.

New-build properties will be subject to a lower LTV of 80% or 85% for remortgages with additional borrowing.

The criteria improvements come after Moneyfacts today reported that The number of available mortgage products has grown for nine months in a row and rates have dropped at the fastest rate since June 2020.

This continuous increase in product numbers means that today’s 4,512 deals currently on the market makes for the largest choice since March 2020, when borrowers could opt from a total of 5,222 products.