Mortgage Intelligence has launched a deal designed to take graduates from university to their first step on the property ladder.The UNI-STEP deal combines a stepped fixed rate with a loan that could be 6 x the graduate’s income if supported with a parental guarantee. To ensure affordability, guarantors are assessed on an individual basis. The deal, in conjunction with Scottish Widows Bank, also allows graduates to borrow up to 3.5 x income without a guarantor. The three-year stepped fix starts at 4.79% in the first year and is then 4.89% in the second year and 4.99% in the third. UNI-STEP then reverts to the SVR, currently 5.94%, for the remainder of the loan. It is available for loans up to 102% LTV with no higher lending charge and no extended tie-ins. Sally Laker, managing director of MI, says: “Although parents guarantee the additional income needed they may never have to pay. They simply guarantee the commitment. “There is no charge against the parent’s property. The idea is that the graduate will be able to support themselves in three or four years.” UNI-STEP also offers a refund of valuation up to 250 and 150 cashback for purchases and remortgages.