Reliance Bank has launched a 2-year fixed rate mortgage at 90% loan-to-value (LTV) for first-time buyers.
Priced at 1.85%, the mortgage has no product fee, comes with a free valuation and allows overpayments.
Rachel Springall, finance expert at Moneyfacts, said: “First-time buyers searching for a cost-saving incentive package with a 10% deposit may find this new deal from Reliance Bank appealing.
“While there may be cheaper rates available in its sector, the overall package may suit those looking to keep the initial costs down.
“As a result, the deal earns a Moneyfacts product rating of Excellent.”