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Cambridge Building Society signals May start for 95 per cent products

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  • 22/04/2021
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Cambridge Building Society signals May start for 95 per cent products
The Cambridge Building Society is to introduce three 95 per cent loan to value (LTV) mortgage products from 5 May.

 

The range consists of a two-year discount at 3.89 per cent, a two-year fix at 3.99 per cent and a five-year fix at 4.09 per cent.

There is an early repayment charge of one per cent on the discounted product and for the two-year fix, it begins at three per cent, then falls to two per cent. 

For the five-year product it tapers from five to one per cent.

The maximum loan size is £400,000, and an application fee of £199 applies on all three mortgages.

The new range falls outside of the government’s new guarantee scheme.

The two-year products are offered only through Cambridge Select Intermediaries, while the five-year is available through whole of market.

The products revert to The Cambridge’s standard variable rate, which is currently 4.89 per cent.

“We’ve been able to support a large number of intermediaries and their clients over the last 12 months, but we know the 95 per cent LTV options have been limited,” said Kathy Bowes, intermediary manager at The Cambridge.

“We’re excited to be offering even more choice by further enhancing our low deposit options and making home ownership more attainable,” Bowes said.

 

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