In addition it no longer has an Early Repayment Charge or a completion fee and includes free standard valuation and legal fees.
Steven Marks, corporate development executive for NBS, said: “This reduction in the rate of our 95% LTV product demonstrates how NBS is committed to supporting borrowers as it provides an opportunity for those with a smaller deposit to access a competitive mortgage product.
“Additionally, the no ERC feature gives more flexibility to a person if their circumstances change.”
The product will be made available through Legal & General, Openwork, Sesame, PINK, TMA, First Complete, Intrinsic, Positive Solutions and Brilliant Solutions.
