Lenders launch new high-LTV products aimed at first-timers

Two lenders have launched new mortgage products with LTVs of over 90%.

Furness Building Society has introduced a range of five-year fixed rate products to its offering, with its 95% LTV mortgage receiving an 'outstanding' accolade from Moneyfacts.

This particular product has no fee and is priced at 3.98%.

Furness' head of intermediary distribution, Barry Fitzsimmons, says he believes the new five-year fixed rate products are well placed in the market.

Meanwhile, Accord Mortgages has recently launched a selection of 90% LTV products with the aim of helping borrowers with smaller deposits.

The intermediary-only lender, which is part of the Yorkshire Building Society Group, has launched a 2.24% two-year fixed rate mortgage at 90% LTV with a £995 fee, which is available to both remortgage and house purchase customers.

Also on offer is a two-year fixed rate mortgage at 2.32% at 90% LTV which comes with a £995 fee, plus £250 cashback on completion and free standard valuation for purchase customers.

The range also includes a five-year fix at 2.96% at 90% LTV with a £995 fee.