The Nottingham has launched two new 95% mortgages.

The pair are aimed at supporting first-time buyers onto the property ladder and require a minimum 5% deposit.

The building society has introduced a fee-free and lower rate option to allow first-time buyers to find the combination that best meets their needs.

The products include:

• A two-year fixed rate at 2.39% up to 95% loan to value, with a fee of £999.
• A fee-free two-year fixed rate at 2.78% upto 95% loan to value, with £500 cashback.

The lender’s head of mortgage product, Christie Cook, said: “It’s important to us to do what we can to help first-time buyers achieve their dreams – something that’s been in The Nottingham’s ethos for over 170 years.

“We’re delighted to be announcing these competitively priced 95% LTV products. As a mutual building society that prides itself on helping people onto, and along, the property ladder we aim to keep evolving our products and services – including our focus on our offerings for first-time buyers and those with smaller deposits.”