Tesco Bank will soon lend to brokers at 95 per cent LTV.
The 95 per cent LTV products include a two-year fixed loan at an initial 3.74 per cent with no fee and a five-year fixed at 4.29 per cent, also with no fee.
A Tesco statement says the new range will launch at 8am on 14 July.
The statement says: “We’re removing booking fees across the product range making our mortgages amongst the most competitive in the market for first-time buyers.”
Booking fees will also be removed on all Tesco products and some will be fee-free.
The lender has also lowered rates on several five-year fixed products.