First-time buyers offered new deal

Lender Britannia has boosted the mortgage market after introducing a new home loan offering 90 per cent loan to value. Available from today, the two-year fixed rate mortgage requires only a small deposit, seen as essential to help first-time buyers into the market. Nationwide has also announced it is launching tomorrow a new two- and three-year tracker deal for existing customers who are coming to the end of their loan, at 95 per cent loan to value.