Marsden Building Society has said that it is reducing the rates on its fixed FTB products as well as adding a new fee-free option with cashback.
As part of the shake-up, the building society is also removing four residential products from the market.
The two new products are a two-year fix at 2.79 per cent with £299 booking fee and 0.5 per cent arrangement fee, and another two-year fix, this one at 3.39 per cent with no fees and £300 cashback.
The four withdrawn products are as follows (all 95 per cent LTV): the two-year at 2.89 per cent with £299 booking fee and 0.5 per cent arrangement fee; the two-year at 3.29 per cent with £299 booking fee; the three-year at 3.29 per cent with £299 booking free and 0.5 per cent arrangement fee; and the three-year at 3.59 per cent with £299 booking fee.
The building society launched its “Family Step” range in July, products aimed entirely at first-time buyers and renters looking to secure a property of their own.
Marsden Building Society general manager of operations Heather Crinion (pictured) says: “We’re always innovating for first time buyers and want to provide good support for intermediaries and their clients.
“Making that first step onto the property ladder is difficult so we want to help support intermediaries and their clients who are looking for the right products to suit their needs.”