Specialist bank Aldermore has today reduced the rate on its two-year fixed 95% LTV mortgage product, with the change coming into effect immediately.
The two-year fixed rate product is available up to £400,000 with the interest rate now down to 4.58% rather than 4.78%.
Commenting, Aldermore director of mortgages Damian Thompson said: “Our latest First-Time Buyer Index shows that raising a deposit remains the biggest barrier to those looking to purchase their first home.
"Many in the UK are in a position where they are able to afford mortgage repayments but are being frustrated by the struggle to raise a substantial deposit, so we want to continue to open up options for them to turn home ownership into a reality.”
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