Vernon opens 95% LTV distribution to intermediaries

The five-year fixed rate is priced at 2.99% and comes with an arrangement fee of £699.

The 95% LTV rate is available on purchases across England and Wales, excluding London and the South East. It can be taken up to a maximum term of 35 years with a maximum age at end of term of 85 years.

The mortgage is available on loans from £120,000 to £300,000 with a minimum valuation of £125,000.

Brendan Crowshaw, head of mortgage and savings distribution at Vernon, said: “We’re delighted to offer our 95% LTV mortgage through brokers in addition to our direct channel.

“We know that saving a deposit remains an enormous challenge for many of your clients, but it’s not the only barrier to buying.

“All your clients – including those borrowing at 95% – also benefit from Vernon’s common-sense approach to underwriting. We’ll take time to really understand the case and, where possible, find a way to say yes.”