Coventry Building Society has unveiled a new collection of mortgages to help people get their foot on the first rung of the housing ladder.
The group has launched the home loan range at up to 90 per cent loan-to-value (LTV) and is promising excellent rates and low flat fees.
These first-time buyer (FTB) products include an offering at 5.19 per cent fixed until September 2017 at 85 per cent LTV with a £199 booking fee and £300 arrangement cost.
In addition, FTBs can choose to go with a deal at 5.39 per cent, fixed for the same period, at 90 per cent LTV with the same booking and arrangement prices.
Colin Franklin, sales and marketing director at Coventry, said FTBs require assistance as they look to enter the property market for the first time.
Mr Franklin stated: “Our new FTB range offers a winning combination of low, flat fees and a competitive fixed rate for those early years when payment stability is so important.”
He explained individuals might therefore find taking advantage of a 90 per cent LTV makes it easier for them to realise the dream of buying their own place.
