Skipton Building Society has launched a new track record product to help first-time buyers with additional costs required when buying a home. The new five-year product comes at a rate of 5.44% at up to 100% LTV and comes with £1,000 cashback and zero fees. The product was launched after the society’s affordability index found that one in eight aspiring first-time buyers can afford a home in their local area. Furthermore, almost 80% of potential first-time buyers have insufficient savings for the deposit needed to get on the property ladder in their area.

Marsden Building Society has increased its LTV across its later life, lending into retirement and retirement interest only (RIO) mortgage products. On the society’s later life and lending into retirement products, the LTV has increased from 60% to 70%, while its RIO mortgages have seen an increase from 55% to 65% LTV. The society said that increasing the LTV across its later life solutions will allow it to provide greater support to applicants aged 55 and over seeking mortgages during or in retirement.

Kent Reliance for Intermediaries (KRFI) has launched a new buy-to-let limited edition one-year fixed product, designed to help brokers and their clients navigate an “upbeat but challenging market” ahead of the Autumn Budget. The product includes three different fee options, including a fee-free option. Rates on this product start at 4.29% at 75% and 80% LTV options and comes with a 1% early repayment charge.

---