Nationwide offers 90pc LTV loan through brokers
Previously these low deposit deals were only available to existing customers or homebuyers who use the society’s FlexAccount as their main current account.
Commenting, Ian Andrew, head of intermediary sales, said: “This news is further evidence of how we are actively supporting the housing and mortgage markets, in particular, those with smaller deposits.
“We know brokers often speak to customers who are struggling to raise deposits of 15% or more so we’re pleased that they will now be able to offer them our competitive three and five year fixed rate deals with just a 10% deposit.
“On the average property, this will bring the level of deposit required down from £24,750 to £16,500 – welcome news for first time buyers and those upsizing to a bigger home.”
The new rates include a three-year fixed rate available at 5.39% and a five-year fixed rate available at 5.69%. Both mortgages have a 90% LTV with a £900 product fee and a £99 booking fee (payable upfront and non-refundable). There is a £500 product fee discount for first-time buyers.