"The new Family Mortgage five year fixed rate is the lowest available for borrowers seeking a loan to value of up to 95%."
Its 90% LTV Low Start Mortgage has been cut by 0.70% and is now available from 2.99%. The 5 year stepped fixed rate starts at 0.49%, rising to 1.49% and then 3.49%.
Family Mortgage rates include a three-year fix from 2.99% and a five-year fix from 3.29%.
The new two year discounted variable rate for the Offset Mortgage is 2.19%.
Keith Barber, Director of Business Development at Family Building Society, said: “With a shortage of suitable homes in the supply chain, lack of innovation by the mainstream lenders and expensive rates for those with only a 5% deposit, we know how tough it is for first time buyers to get into a home of their own.
“The ground breaking Family Mortgage champions the cause of this hard pressed borrower by making it easier to pool family assets without the need for families to gift money or remortgage their home.
“These reduced rates make our first time buyer mortgages among the most competitively priced. Indeed, according to Moneyfacts, the new Family Mortgage five year fixed rate is the lowest available for borrowers seeking a loan to value of up to 95%.”