Leeds Building Society has returned to 95 per cent LTV lending with two new deals for first-time buyers.

The lender is offering a choice between two different five-year fixed rate options.

The first is fixed at 3.99 per cent with a £999 fee.

The second is fixed at 4.09 per cent with no fee.

Both deals will be available from tomorrow and come with a free valuation.

Leeds director of products Matt Bartle says: “We’re pleased to be able to announce our return to 95 per cent LTV lending – more lenders returning to this sector gives signs of the market returning closer to normality and signals expectations of positive house price growth.

“It’s important to us to be able to assist borrowers who are not well served by the wider market, including buyers with smaller deposits, to deliver on our purpose to help more people save and have the home they want.

“Throughout the pandemic we’ve continued to support the housing market and our members, particularly in the affordable housing space including shared ownership. 

“We keep our products, rates and lending criteria under constant review to ensure we can continue to offer mortgages to meet the needs of customers who are looking to take their first step onto the property ladder.”