Newcastle Building Society has today launched its range of 95 per cent loan to value (LTV) mortgages available under the government’s First Homes scheme.
The products are amongst the first under the initiative which was launched last month. It offers first-time buyers a discount of at least 30 per cent on a new-build property’s market value.
Prices for properties must not exceed than £250,000 outside of London, or £420,000 in Greater London.
The mutual’s two-year fixed rate is available at 2.89 per cent while the five-year fixed rate is available at 2.99 per cent.
Stuart Miller, chief customer officer at Newcastle Building Society, said: “We’re pleased to launch our First Homes products, which will give brokers and their clients a competitive option on the pilot developments.
“By participating in First Homes, we’re delivering on our commitment to support first-time buyers, especially those without access to the bank of mum and dad. It’s one of several innovative initiatives we’re involved in to help low-deposit borrowers get on and up the property ladder.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS