The products can be applied for through a broker, directly from the Santander website or in branch.
These include a five-year fixed with a £999 fee at 3.6 per cent and a fee-free equivalent with a rate of 3.79 per cent.
Helen Harrison (pictured), head of intermediary distribution at Santander, said: “We’re pleased to announce these new 90 per cent LTV mortgage products and to be able to support more first-time buyers with smaller deposits on their journey towards homeownership.”
The Nottingham BS
The Nottingham Building Society have also launched two mortgages at 90 per cent LTV, two weeks after it returned to the 85 per cent LTV lending space.
The five-year fixes are available from today and include a fee-free product with a rate of 3.7 per cent as well as a £999 option at 3.45 per cent.
The mutual has also launched deals for those with slightly bigger deposits or more equity in their homes.
These include fee-free 80 per cent LTVs with a two-year fix at 2.3 per cent and a three-year fix at 2.6 per cent. There is also a two-year fixed mortgage with a rate of two per cent. This product has a fee of £999.
At 85 per cent LTV, there is a three-year fixed with a rate of 2.9 per cent.
Nikki Warren-Dean, head of intermediary sales, said: “We’ve been working very hard behind the scenes to be able to bring back 90 per cent LTV mortgages.
“Buying property is never easy, and that has undoubtedly become more challenging due to the Covid-19 pandemic. We were always looking to return to this space and to help people with smaller deposits, however, it was important to do so in a measured and responsible way.”
“We are delighted to be able to unveil products that could help make house moves or remortgages that in 2020 may have looked impossible, possible.”