The society is also increasing the maximum LTV on mortgages for self-build and new-build houses from 75% LTV to 80%.
Richard Barker, N&P’s product manager for mortgages, said: “These new mortgages at the higher LTV mean that a greater number of people will be able to get a foot on the property ladder, re-mortgage or move house if they have seen their equity squeezed in recent times, and that is very good news.
“Our increase in maximum LTV is also good news for those looking to build their own home or move straight into a newly built house. These changes will be a welcome boost for many prospective homeowners who might have struggled to raise a sufficient deposit to purchase or re-mortgage in the current environment.
“Our new 90% LTV mortgage discounted to 4.95% for two years might be perfect for those looking for lower repayments while they find their feet as a homeowner, or our 2 year fixed might suit those who want certainty over how much their monthly outlay will be, at a time when most commentators are expecting the Bank Base Rate to rise later this year."
