"90% mortgages are in demand, not just from first-time buyers but also homeowners making that next step or remortgaging, so we’re pleased to support this sector."
The two-year discounted product is available to first-time buyers, home movers and remortgagors on loans between £150,000 and £350,000 and comes with a £999 fee, which can be added to the loan.
The discounted rate is a 2.85% reduction on the society’s SVR of 5.2% with a floor of 2.35%. Early repayment charges apply for the two-year discounted period.
Brendan Crowshaw, head of mortgage and savings distribution at Vernon Building Society, said: “We know that 90% mortgages are in demand, not just from first-time buyers but also homeowners making that next step or remortgaging, so we’re pleased to support this sector.
“Our new 90% discounted mortgage has a low interest rate of 2.35% and borrowers can apply for the mortgage over the phone, in branch or via a mortgage broker.”
