Michael Ossei, personal finance expert at uSwitch.com, says:
"This could be a sign that building societies and other providers are starting to seriously compete for first time buyers.
"Marsden hasn't been afraid to step up and help first time buyers in the past - in 2011 it raised eyebrows when it launched a 100% LTV tracker deal. However, this latest launch is the first time a 90% LTV fixed rate deal has breached the 4% mark since 2003. This will be music to the ears of tens of thousands of would-be first time buyers who only have a 10% deposit to stump up. With free valuation costs included, this mortgage could be the little injection needed to get more first time buyers into their own home and put their renting days behind them.
"This aside, some might see this move as a sign that we are getting closer to building societies and other lenders offering 100% LTV mortgage deals. While this would no doubt be saluted by first time buyers, it could be seen as a danger sign that the industry is creeping back towards irresponsible lending."
