The Beverley Building Society has launched a two-year, fixed rate deal at 2.99% at 90% loan to value (LTV).

The deal is available for purchase and remortgage (with no additional borrowing).

Family-assist arrangements, with gifted deposits or guarantors in place, will be considered by the mutual.

It comes with a £995 fee and the maximum loan size is £200,000.

The Beverley Building Society has warned that they are limited edition products; brokers and would-be borrowers are advised to apply without delay, it says.

Graham Carter, the Beverley’s head of lending, said: “We understand that higher LTV mortgages continue to be a pinch point in the marketplace, with just not enough deals available for people with lower deposits, who, after all, are the engine room of the housing market.

“Hence why, with this latest addition to our fixed rate range, we’re aiming to continue filling that gap.

“We’re urging brokers and direct applicants to act fast, as we only have a limited tranche available, albeit we hope to add more fixed rates in future, subject to demand.”