House builder launches 95% LTV deal

Housing builder Kier Homes, has launched Step One + which offers its buyers a mortgage up to 95% LTV.

The scheme works by offering potential buyers a Step One + secured loan combined with a traditional first mortgage.

It is working with UK specialist lender Step One Finance Limited – a private limited company, to offer the loan.

It provides a top-up loan for customers to buy new build homes.

Step One offers up to 15% of the purchase price on top of a first mortgage to a total LTV of 95%.

The Step One + loan is a secured loan product offered with a 10-year term, which it says is at a competitive fixed interest rate and has no early repayment charges.

Upon viewing a Kier home, potential buyers will then be referred to Kier’s nominated financial advisor.