In addition, it no longer has an Early Repayment Charge, which makes the product even more attractive to those borrowers whose circumstances may change as it allows them to redeem penalty-free or make overpayments.
It also comes with no completion fee and free standard valuation and legal fees.
The product will be made available through Legal & General, Openwork, Sesame, PINK, TMA, First Complete, Intrinsic, Positive Solutions and Brilliant Solutions.
Steven Marks, Corporate Development Executive for NBS, said:
“This reduction in the rate of our 95% LTV product demonstrates how NBS is committed to supporting borrowers as it provides an opportunity for those with a smaller deposit to access a competitive mortgage product.
“Additionally, the no ERC feature gives more flexibility to a person if their circumstances change.”
