The update offers borrowers greater flexibility and access to funding.

Nationwide is also removing the requirement for these applicants to provide at least 25% of the total deposit from their own resources.

London Credit has also updated its valuation methodology.

The lender has increased its LTVs by 5% across its Clear, AAA, AA, and A product tiers.

The new 95% LTV range is available for purchase, remortgage and first-time-buyer applications.

The 5% LTV increase applies across LiveMore 1, 2 and 3 standard interest-only products.

Buyers can now borrow up to 85% LTV on selected residential expat mortgages.

The Society has increased LTVs across its later life, lending into retirement and retirement interest only mortgage products.