95% mortgage deals still availableWith many lenders doing away with their high loan to value deals, a leading lender has announced that it will continue to offer this kind of mortgage that is of particular interest to first-time buyers.

Nationwide has stated that this kind of deal is particularly suited to those buyers with smaller deposits and that customers could benefit by around £3,210 by opting for its product over other lenders.

The group has pointed out that many lenders require a higher lending charge from customers who want to borrow more than 90 per cent of the property value, which means that borrowers wasted some £220 million in higher lending charges last year.

Matthew Carter, director of Mortgages at Nationwide, said: "Buying your first home is an exciting experience, which shouldn't be spoiled by paying more than you need to for your mortgage.  We urge first time buyers to shop around and compare the cost of each deal before committing, it could make a big difference."

Elsewhere, Nationwide recently reminded landlords to be vigilant about declaring rental incomes.

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