Beverley Building Society has launched a 90% loan-to-value (LTV) product at 2.99%.

The offering is a 2-year fix at 2.99%, with a £999 fee.

It allows for family-assist arrangements, with gifted deposits or guarantors in place and is available for purchase and remortgage.

The maximum loan size for this offering is £200,000 and it allows for overpayments of up to 10% during the product term, without early repayment charges.

Graham Carter, head of lending at Beverley Building Society, said: “We understand that higher-LTV mortgages continue to be a pinch point in the marketplace, with just not enough deals available for people with lower deposits, who, after all, are the engine room of the housing market.

“Hence why, with this latest addition to our fixed-rate range, we’re aiming to continue filling that gap.

“We’re urging brokers and direct applicants to act fast, as we only have a limited tranche available, albeit we hope to add more fixed rates in future, subject to demand.”