Saffron Building Society has returned to 90 per cent loan-to-value first-time buyer lending with the launch of two new products.

From today the lender is offering a two-year fix at 3.77 per cent and a five-year fix at 4.07 per cent via brokers. 

The products come with a free valuation.

Interim head of mortgage sales Tony Hall says: “It is great to be able to offer these two limited first-time buyer products to the market. 

“We have always offered the joint borrower sole proprietor product to first-time buyers as a specialist product, but we have been keen to get back into the 90 per cent LTV market after this unprecedented year. 

“It is worth bearing in mind – for clients who perhaps are struggling to raise the deposit – that both deals, as with all Saffron products, offer a gifted deposit option from a close family member. 

“Perhaps a generous mum or dad might just give a deposit gift this Christmas?”