Buckinghamshire Building Society has launched a new first-time buyer 95% loan-to-value (LTV) mortgage product with an interest rate of 3.85%.
The rate is fixed for 5-years, enabling buyers to understand the affordability of their mortgage and budget accordingly.
One of the biggest reported obstacles to getting on the property ladder is saving for a deposit.
To further help applicants, it is now possible to accept gifted deposits from parents and grandparents when applying for this mortgage.
Claire Askham (pictured), head of mortgage sales, Buckinghamshire Building Society, said: “It is rewarding to be able to continue to support first-time buyers with this new product.
“We are confident that the competitive interest rate, fixed for 5-years will make it a popular product for our broker’s clients.
“We are ready to work with our broker community to process new cases and help their clients to secure their first home.”
