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John Charcol offers two new 95% LTV exclusives

John Charcol is offering two new exclusive 95 per cent loan-to-value mortgages aimed at first-time buyers.

The first mortgage, offered by Newbury Building Society, is a family offset with an initial rate of 3.95 per cent, which is a 0.5 per cent discount for three or five years. It comes with no arrangement fees and the maximum loan is £300,000.

Borrowers must have a 5 per cent deposit and one or two family members willing to deposit 20 per cent of the value of the purchase price in a Newbury Building Society savings account. It is available in the areas around Newbury.

The second mortgage is a 95 per cent LTV rent to buy deal from the Saffron Building Society. It was launched earlier this month and calculates affordability based on the borrower’s rental payment history. It is a four-year fixed rate deal at 6.49 per cent.

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