Atom Bank has reintroduced a range of 90% loan-to-value (LTV) mortgages for first-time buyers and homeowners.
The lender will now be offering selected 5-year products at 90% LTV; these include a no-fee first-time buyer option with an initial rate of 3.81%, free standard valuations and £500 cashback.
In addition, it is adding two purchase products priced at an initial rate of 3.76%, with fees set at £900 for loans below £350,000 and £1,200 for loans above £350,000.
David Castling, director of intermediary lending at Atom Bank, said: “We continuously evaluate the mortgage market and believe it is in our customers’ best interests to apply a considered approach to the products we offer.
“We now feel it’s the right time to get back in the market with 90% LTV to support first-time buyers and homeowners.
“The world is a different place in light of COVID-19 and we need to make sure we can give customers choice whilst also lending responsibly.
“Given the ever-evolving landscape, we have taken the decision to reintroduce these products.”