Digital Mortgages by Atom bank has launched a range of first-time buyer products at 95% loan-to-value.
The 95% LTV rates stand at 3.59% for a 2-year fix, 3.89% for a 3-year fix ant 3.99% for a 5-year fix, all with no product fee and £500 cashback.
What is more the Durham-based bank has removed the £300,000 limit on first-time buyer applications and increased their maximum mortgage term from 35 to 40 years, in response to broker feedback.
Maria Harris (pictured), director of intermediary lending, said: “It’s great news that we’re expanding our mortgage range, offering our mortgages to a wider range of customers. These deals will be attractive to first-time buyers who want to get onto the property ladder – it’s hard enough to find the money for your first home and we know that taking away fees and giving cash-back 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’re constantly striving to do just that! We want to be a bank that’s not only looking out for customers, but also for the broker community too.”