Mortgage lending conditions continue to improve with more lenders announcing increased LTV products.
Nationwide announced today that it is launching a new, competitive 2 year fixed rate at 90% LTV for first time buyers, home movers and existing customers moving home. The Society is offering a rate of 5.29% with a £900 product fee or 5.69% with no product fee.
The Society will also make a number of other pricing changes on selected fixed and tracker mortgage rates with effect from Thursday 12 January 2012.
Martyn Dyson, head of mortgages at Nationwide, said: “We are continuing our support for the housing market by extending our range of 90% LTV mortgages to now include 2 year fixed rate products. It means we offer a comprehensive fixed rate range at 90% LTV including two, three and five year fixed rate deals, offering some of the best low deposit deals currently available.
Leeds Building Society has also announced it is raising its buy-to-let LTV cap to 80%.
The mutual’s 2-year fixed rate is now available at 80% LTV with a rate of 5.69%, a £199 booking fee and an £800 completion fee.
The announcement follows the launch of the society’s 95% LTV direct-only range of 5-year residential deals last December, and Aldermore’s maximum LTV increase for buy-to-let mortgages from 75% to 80% earlier this week.