Yorkshire building society relaunches 90% mortgages for first-time buyers

Yorkshire building society has relaunched 90% mortgages for first-time buyers and cut its interest rates, in a rare piece of good news for those trying to get on to the housing ladder. The lender, which suspended 90% home loans earlier this month after unprecedented demand from buyers, said these deals would only be available when at least one applicant was a first-timer. Last week the UK’s largest building society, Nationwide, increased the deposit it needed from buyers from 5% to 15% and the choice for those without large savings to put down has been dwindling. Yorkshire said its “desire to lend has not wavered” and that it had made no changes to lending criteria or how much it was willing to offer buyers.