Monmouthshire Building Society has released a new range of 95 per cent loan-to-value (LTV) homeloans.
The range includes both two-year and five-year fixed rate purchase mortgages to further support first-time buyers across England and Wales.
There is a two-year fixed rate deal at 3.35 per cent, while the five-year fixed rate is 3.7 per cent.
All products have no product or application fees.
Early repayment charges apply.
Dan Goulding, product development manager at Monmouthshire, said: "The society is privileged to assist first and second-time buyers who have a 5 per cent deposit.
"These new two-year and five-year fixed rate products reinforce the society's commitment to helping people achieve their home-ownership dreams by combining attractive interest rates with additional benefits, including; a free valuation and a choice of cashback options.
"We are confident that these new products will appeal to homebuyers across England and Wales."
Kusal Ariyawansa, a financial planner with Appleton Gerrard, said: "High LTVs definitely help first-time buyers and it is the lack of product or application fees that is particularly refreshing.
"As ever you would need to compare products over terms in order to get the full picture as to whether such incentives are worthwhile."
aamina.zafar@ft.com
