Self-employed and new-build house applications will be accepted, as well as gifted deposits where applicants can prove they have at least a 12-month rental history. 

The products have a minimum loan amount of £75,000 and maximum £500,000. Application fees are £199 and completion fees are £999. 

Remortgage applications are entitled to a free valuation and fee assisted legal services. 

The two-year fixed rate option has a rate of 3.25 per cent while the five-year fixed rate is priced at 3.49 per cent. 

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Charlotte Grimshaw (pictured), head of intermediary relations at Suffolk Building Society, said: “By offering fixed rates, we’re able to provide certainty over monthly payments, which should bring peace of mind to prospective home buyers, especially amid news of rising inflation, interest rates, and energy prices.

“We’re also really pleased to be able to welcome gifted deposits from renters who have family support as a route to home ownership. We recognise that the way people get on the property market has changed; gathering a lump sum for a deposit can be difficult, especially for those currently renting, and so increasing numbers of parents and grandparents are helping out family members in this way.”