Britannia building society has announced it will be reintroducing 90 per cent loan to value (LTV) mortgages from next week.

The mortgage provider will be introducing a range of 90 per cent LTV deals on two, three, five, ten and 15 year fixed rate mortgages, which will also come with a 60 and 75 per cent LTV option.

Commenting, Tim Franklin, managing director of member business at Britannia said: “We’ve listened to the feedback from our customers, particularly first time buyers, and they’ve told us that the 90 per cent LTV option would really help them. It’s about giving all borrowers even more choice, with products to really suit their needs.”

The move is aimed at helping first time buyers step onto the property ladder, Mr Franklin added: “Britannia has always taken a cautious and prudent approach to lending and with lower house prices and interest rates we feel this is the right time to help first time buyers get on the property ladder.”

And, as interest rates continue to remain at 0.5 per cent, the deals offer the security of a fixed rate: “With continued uncertainty about what will happen to rates in the coming months, now is also a great time to choose a fixed rate deal,” he said.

“Not only will borrowers get a great rate and up to 90 per cent LTV, but they’ll enjoy the peace of mind that their monthly payments will be protected for up to 15 years,” Mr Franklin concluded.

The new Britannia mortgage deals are available to all borrowers.

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