As part of the changes, Advantage has increased its loan-to-value to 90 per cent.
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It has also opted to change its products, allowing fees to be added to the product, up to 97 per cent LTV.
David Connolly, head of product development, at Advantage, said: “We always strive to adapt our products to meet the needs of intermediaries and their clients and this is reflected in the increased LTV now on offer to both employed and self-employed borrowers.”
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Alex Murray, group director of mortgages for Thinc Group, welcomed the changes, but urged caution over the self-cert market. He said: “Anything that would allow first-time buyers to get onto the ladder should be applauded providing the affordability can be met. My only concern is with regards to the plethora of self-cert products in the market and whether they are all being used in the right circumstances.”
