Nationwide unveils 95pc FTB rates

The society’s new range includes a 2-year fix at 3.99%, a 3-year fix at 4.59% and a 5-year fix at 4.79%, while products also come with £500 cashback.

The society has pledged to help one in five first-time buyers get on the property ladder in the next four years with £1bn of additional lending.

Henry Jordan, Nationwide’s head of mortgages, said: “Nationwide’s move significantly increases the Society’s lending in the first time buyer market and widens consumer choice.

“It aims to build on Nationwide’s traditionally strong support for first-time buyers by offering more mortgage options to those with smaller deposits and helping them to achieve their dream of purchasing a home of their own.

“Nationwide also offers tangible benefits to mortgage customers that go beyond the competitive headline rates.

“Our mortgage deals, combined with other support Nationwide provides such as first-time buyer events and independent guides, demonstrate how Nationwide continually aims to do more for its customers.”