The Beverley Building Society is launching a two-year, fixed-rate deal at 3.85% at 95% loan to value (LTV).
The new product is available from Thursday, and details are as follows:
- Two-year fixed rate up to 95% LTV
- 3.85% for two years from completion, reverting to our SVR, currently 4.99%
- Family-assist arrangements considered, including gifted deposits, guarantors and joint borrower/sole proprietor arrangements
- Available for home purchases, to both first and second-time buyers
- Capital and Interest repayment terms only
- £995 fee, which can be added to the loan
- Will consider self-employed applicants
- Maximum loan size: £200k.
Graham Carter, the Beverley’s head of lending, said: “This is the latest example of how we are responding to borrowers’ needs in these challenging and uncertain times.
“We understand that lower-deposit deals remain in short supply, yet they offer an important entry point to the kinds of borrowers who are vital to every house sale chain, and therefore the buoyancy of the market as a whole.”