Darlington Building Society has returned to the low-deposit mortgage market with two new products.

It said the new mortgages are fixed for five years to provide ‘the much-needed stability many first-time buyers are seeking at the moment’.

The first in the low-deposit range is a 90% loan-to-value (LTV) mortgage, available nationwide.

The rate is 6.29%, fixed for five years, and the product comes with a fee of £499.

The second mortgage is exclusive to Darlington Building Society’s local operating area (those purchasing homes within the DL, TS, DH, YO, SR and HG postcodes).

It’s a fee-free, five-year fixed rate at 6.49%, up to 95% of the property’s value.

Chris Brown, products and marketing director at Darlington Building Society, said: “At Darlington Building Society we hope bringing our low deposit, fixed rate mortgages back to the market will provide much-needed opportunities for those looking to buy their own home.

“The turbulent mortgage market has limited the availability of low deposit fixed rate mortgages on a national and local level. By being back in this segment of the market, we are pleased to be able to help those with a low deposit to find their place on the property ladder, both nationally and with our local area exclusive.”