The mortgage lender is offering the fixed-rate products for those who wish to borrow up to 95% of their property’s value.
Although this makes it ideal for those with a 5% deposit, the building society is also offering the deal to movers too.
What’s more, self-employed and new build house applications are also welcome. And Suffolk said gifted deposits would be accepted where applicants could demonstrate their had at least 12-months of rental history.
Charlotte Grimshaw of Suffolk Building Society said: “By offering fixed rates, we’re able to provide certainty over monthly payments, which should bring peace of mind to prospective home buyers, especially amid news of rising inflation, interest rates, and energy prices.
“We’re also really pleased to be able to welcome gifted deposits from renters who have family support as a route to home ownership.
“We recognise that the way people get on the property market has changed; gathering a lump sum for a deposit can be difficult, especially for those currently renting, and so increasing numbers of parents and grandparents are helping out family members in this way.”
There is a two-year or a five-year fixed rate deal with interest rates of 3.25% and 3.49% respectively.
Both products are available with a minimum loan of £75,000, a maximum loan of £500,000, application fee of £199 and completion fee of £999.
You can apply for the mortgage direct at Suffolk Building Society for via a mortgage broker.
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