NatWest has launched a number of new two and five-year fixed rate cashback mortgage deals for first-time buyers.

To be eligible for one of these deals only one of the applicants is required to be a first-time buyer.

This follows the introduction last week of a number of new 60%, 70% and 75% LTV Help to Buy shared equity mortgages.

Lloyd Cochrane, NatWest’s head of mortgages and protection, said: “Buying your first home is the biggest single purchase that most of us make in our lifetime. Cashback can make a huge difference to customers to help with the additional costs associated with buying a home such as legal fees or to allow them to buy something special for their new property.

“This is a another way NatWest are helping customers get a foot on the property ladder at a time when it is more difficult then ever before to do so.”

Mark Bullard, head of sales at NatWest Intermediary Solutions, added: “Cashback has been a growing feature on first-time buyer mortgages since the end of 2014, with 40% of first-time buyers opting for a cashback mortgage in 2016.

“As part of our commitment to support first-time buyers, we believe that the addition of cashback, alongside our Help to Buy, shared equity and other first-time buyer mortgages offers brokers a really comprehensive choice for their customers.”