The specialist lender, part of OSB Group, says the range has been created to help brokers with customers who have limited disposable income, including those with less-than-perfect credit profiles and/or debt management plans.

The fixed product fee of £995 can be added to the loan amount meaning that borrowers can also save on upfront mortgage costs which could be a barrier.

The limited edition product’s features include:

• Rates from 5.49%
• Available at 75% and 85% LTV
• Loan sizes between £75,000 and £300,000
• Automatic cascade available for faster decisions-in-principle

OSB group intermediary director Adrian Moloney says: “With recent reports highlighting that there is almost a 30% difference in house price increases vs income growth1, alongside cost-of-living challenges, borrowers need as much support as they can get.”

“The expenses associated with buying can be significant, particularly for first-time buyers and this limited edition range removes any upfront mortgage costs, helping to ease the financial pressure.”

“Fixing could be a great option for borrowers looking for the comfort and security of a fixed monthly payment and with a five-year option, it helps homebuyers budget for the longer term.”