Previously the lowest tier the lender offered was 75% LTV.

In the new tier, five-year fixed rates start from 5.87% and two-year fixes from 6.35%, which is 10 basis points cheaper than the lender’s existing 75% LTV range.

The 65% LTV option is available on its Prime Plus, Prime and Near Prime products.

Meanwhile, West One has cut rates in its 80% LTV tier by up to 38 basis points and introduced a range of lifetime trackers starting from 2.3% over base rate.

It has also rebranded its “flex” range, which offers loan-to-income (LTI) ratios of five times income or more, to “LTI Boost” to make it clearer to brokers what the benefits of the range are.

In its second charge range, West One has cut rates by up to 90 basis points and launched 60% LTV products, including an SVR lifetime tracker and fixed rates, starting from 6.74%.

Managing director of residential mortgages and second charges Marie Grundy says: “Earlier this month we announced ambitions to significantly expand our footprint in the specialist residential market, and this is a continuation of that plan.

“We have been working closely with brokers to find areas where we can improve our range, hence why we have introduced a new 65% LTV tier with lower pricing.

“The introduction of this new tier, alongside our other rate reductions, gives brokers and lenders greater choice and at lower rates.”

She says that further changes will be introduced in the coming weeks and months following broker feedback.