The Yorkshire Building Society has launched a new range of mortgages for borrowers with a 10% deposit.
They available to first-time buyers and existing homeowners who want to move house or remortgage.
The new range includes:
- 3.69% 2 year fixed rate with a £995 product fee for home purchases and remortgages
- 3.79% 5 year fixed rate with a £995 product fee for home purchases and remortgages
All house purchase mortgages come with a free standard valuation, and those looking to remortgage can also benefit from paid legal fees.
The Yorkshire hopes the new range will give borrowers with smaller deposits greater choice in what is currently a limited market.
Ben Merritt, senior mortgage manager at Yorkshire Building Society, said: “We know it’s been a really tough few months for borrowers with smaller deposits but hope returning 90% LTV mortgages to our core range will provide a welcome boost to people wanting to get on to, or move up, the property ladder.
“We’ve consciously designed the new range to include something for homebuyers, movers and people remortgaging to make sure our options meet the varying needs of those borrowing more money against the value of their house.”
The Yorkshire’s intermediary arm, Accord Mortgages, also offers a range of 90% LTV mortgages.