Coventry for intermediaries is set to re-enter the 95% loan-to-value (LTV) market this week, with new products set to launch on Tuesday.
Kevin Purvey, director of mortgage distribution at Coventry Building Society, said: “Helping more first-time buyers get on the property ladder is a key focus for us and we recognise that one of the biggest hurdles facing many of them is the size of deposit required by lenders.
“We continued to support the market last year by lending at 90% LTV and our enhancement to 95% this week will provide further solutions for would-be buyers.
“And importantly, our intermediary partners can be confident in our ability to deliver consistent levels of service across our telephony and underwriting teams.”
More lenders are expected to enter or re-enter the 95% LTV space from next month as the government’s mortgage guarantee scheme opens for new applications.