Newcastle Building Society has launched a two-year 90% LTV tracker deal set at 3.99% above the Bank of England Base Rate in addition to a 4.15% five-year fixed rate deal available at a maximum LTV of 70% with a free valuation and legal fees.

The mutual expects the tracker product to prove popular with first time buyers due to its higher LTV availability, while the five-year fixed rate is anticipated to be popular to those with a larger deposit who want to take advantage of the competitive fixed interest rate.

Steve Urwin, senior sales and marketing executive at Newcastle Building Society, said: “Our new deals offer competitive fixed and tracker options for borrowers who can only afford a 10% deposit. Borrowers who can afford a larger deposit and are looking for longer term security are able to take advantage of some of the lowest five year rates ever.””