The three-year fixed-rate product is available at 4.59 per cent for 95 per cent LTV.
Available for both purchases and remortgages up to, and including, October 2016, the product has no completion fees or higher lending charges. A free valuation of up to £335, and a free in-house legal service for remortgage clients is available, but a non-refundable £199 booking fee is payable upon application.
Robert McCoy, senior product and communications manager at SBG, said: “This product will help in particular first-time buyers, along with existing mortgage holders who have been unable to remortgage due to not having a large amount of equity.”
Andrew Richards, partner of Plutus Wealth Management, said: “This product should help first-time buyers who have good incomes but are struggling to save a large enough deposit due to higher rental and living costs.”
