How to make the mortgage market work for you
22 Feb 2012
Fri, 13 Jan 2012
By Charlotte Beugge
First-time buyers and home movers with only a little equity in their homes can get a mortgage from Britain's largest building society.
Nationwide has launched a two-year fixed-rate deal at 5.29% with a £900 fee or 5.69% with no fee, with borrowers needing to put up a deposit of 10%.
Martyn Dyson, head of mortgages at Nationwide, says: "We are continuing our support for the housing market by extending our range of 90% LTV mortgages to now include two-year fixed-rate products.
"It means we offer a comprehensive fixed-rate range at 90% LTV including two, three and five-year fixed-rate deals, offering some of the best low deposit deals currently available."
However, buyers who can only manage a 10% deposit - which is still a large amount to save - can get cheaper deals than this. Leeds Building Society has a three-year fixed-rate at 3.99% with a £995 fee on a 90% LTV. And HSBC has a five-year fixed-rate deal of 4.89% with no fee.
Nationwide is also offering a five-year fixed rate of 3.59% at 70% LTV with fees of £999 or 3.79% with just a £99 booking fee. First Direct has a five-year fixed rate for a 65% LTV at 3.99% but with a large fee of £1,999.
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