Digital challenger Atom Bank has launched a range of first-time buyer mortgages.
The company has also added 95 per cent loan-to-value (LTV) loans to all of its existing mortgage products, which it only distributes through brokers.
Atom's first-time buyer products will offer £500 cashback to those wanting to buy their first home, along with a free valuation and no product fee.
The range consists of two, three and five-year fixed rate mortgages with rates starting from as low as 2.24 per cent, with LTVs between 80 and 95 per cent.
Maria Harris, Atom's director of intermediary lending, said: "These deals will be attractive to first-time buyers who want to get onto the property ladder - it is hard enough to find the money for your first home and we know that taking away fees and giving cashback helps.
"We want to make the journey of buying a first home easier by offering real, tangible support to our customers, in conjunction with our network of independent, dedicated mortgage specialists who offer the best advice and guidance.
"We realise the importance of providing our brokers with the best possible products and service, and we are constantly striving to do just that. We want to be a bank that is not only looking out for customers, but also for the broker community too."
Following broker feedback, Atom Bank has also made a number of criteria changes to make it easier for first-time buyers to get onto the housing ladder.
These include removing the £300,000 limit on first-time buyer applications and increasing their maximum mortgage term from 35 to 40 years.
The bank has also added 95 per cent LTV products to its existing range for purchases and remortgages with fixed terms of two, three and five years with no product fees.
Atom Bank entered the mortgage market in December 2016 under the brand Digital Mortgage by Atom Bank and said borrowers could receive an offer within 24 hours of their application.
Since entering the mortgage market, Atom Bank has offered around £1.2bn to date.
Earlier this year the bank raised £149m from investors including Spanish bank BBVA and said it would use the money to roll out new products and build its core capabilities.
Last year Atom Bank appointed pop star will.i.am as a "strategic adviser" to provide an "external perspective" on culture, philanthropy and technology.
David Hollingworth, director of L&C, said: "It is good to see Atom Bank continue to strengthen its proposition with the addition of more products to its range.
"The new 95 per cent LTV products should help them reach a new market segment and the rates have been priced to be competitive, so Digital Mortgages clearly sees it as an opportunity to grow.
"Aside from rates being set competitively the products carry no arrangement fee which will generally appeal to those with a small deposit. The cashback option only adds to the depth of the product range on offer and another serious competitor in this sector will only help improve borrower options."