Connells Group has launched a new 90 per cent loan-to-value mortgage exclusive to NatWest Intermediary Solutions.
The product is fixed for two years at 5.79 per cent before reverting to its current 4 per cent standard variable rate. It has a £999 completion fee.
There is an early repayment charge of 3 per cent until April 30, 2013, and borrowers can make overpayments of 10 per cent a year during the term of the mortgage.
Connells Group mortgage director Ross Bowen says: “The long-term health of the housing market relies upon what we do now to revive the first-time buyer market. Lenders and intermediaries need to be doing all they can to help this group into home ownership with higher LTV products.”