DANSKE Bank is introducing a 95 per cent loan-to-value (LTV) cash back mortgage product for the Northern Ireland market.
The loan comes with its own set qualifying criteria and will be available as an option for applicants in permanent contracted employment, with an individual or combined income over £40,000.
The new mortgage offers a two-year or five-year fixed rate of 4.40 per cent with no product fee, and is available through intermediaries or directly from Danske Bank.
The product is available to first-time buyers and home movers, and offers cashback up to £1,500.
Aisling Press, managing director of personal banking at Danske Bank, said: “As one of the biggest mortgage lenders in Northern Ireland we are very pleased to now be offering mortgages with as little as a 5 per cent deposit.
“Danske Bank is committed to helping Northern Ireland grow again by supporting both businesses and our personal customers as they seek to achieve their ambitions.
“Despite the unprecedented economic challenges facing our economy, the housing market has remained robust with demand from prospective buyers at healthy levels.
“This new 95 per cent loan-to-value mortgage product brings forward another option for those seeking to realise their aspiration of home ownership.”
