The Cambridge has reduced rates on some of its 95% loan-to-value (LTV) products.
The reduced rates apply to its low deposit 2-year discounted rate 95% LTV product which is now offered at 2.79%, and its low deposit 5-year fixed rate 95% LTV product which is now offered at 3.49%. Both products have been reduced by 0.20%.
Tracy Simpson, head of lending at The Cambridge, said: “At The Cambridge we are continuously striving to introduce solutions to help people have a home.
“Through the combination of launching both reduced rates on our 95% LTV products and a 40-year maximum term option we are ensuring both our products and criteria best supports first-time buyers make that step onto the housing ladder.”
The Cambridge have also introduced a fee free 5-year fixed rate for the first time since 2018, which is offered at 2.79% for its 80% LTV product.
The society has also increased its maximum mortgage term to 40 years.