Nationwide is launching a new 5% deposit mortgage deal for first-time buyers and other borrowers this week. Britain's biggest building society will join several other major players on the high street now offering the low deposit deals as part of the UK Government-backed mortgage guarantee scheme.
However, Nationwide said it will launch its new 5% deals on Thursday May, 20 - but not as part of the new UK Government scheme.
It said the new mortgage range will be available to those looking for their first home as well as new customers who are moving, ensuring as many people as possible can benefit.
People will need to pass certain criteria to get the new deals. They will only be available to employed borrowers and the property must be a house.
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