Accord Mortgages has launched a range of high loan-to-value (LTV) products for first-time buyers.
At 90% LTV there is a 2-year fix at 2.39% with a £495 fee, a 5-year fix at 2.68% with no product fee and a 2-year fix at 2.60% for new build houses.
Meanwhile, at 95% LTV there is a 2-year fix priced at 3.12% and a 5-year fix at 3.27%, both of which come with a £495 product fee.
Each of these mortgages at 90% and 95% LTV come with a free standard valuation and £1,250 cashback.
Jemma Anderson, product manager, Accord, said: “We know that the current climate presents many challenges to first-time buyers so these new products enable buyers with smaller deposits more options to get the home they want.
“We’ve recently made a number of criteria changes to improve affordability for those starting on the property ladder, such as increasing the maximum term from 35 years to 40 years to help make monthly payments more manageable.
“We hope this new range offers those looking to buy their own home a bit more support, along with the added incentive of free valuation and £1,250 cashback to help ease the financial pressures of moving.”