Nationwide Building Society offers 95% mortgage for first time buyers

Desperate to get on to the housing ladder but just don't have the funds for the initial deposit? Nationwide Building Society could have the answer. From Friday the financial giant is offering customers the chance to apply for a mortgage with just a 5% deposit. The building society's new Save to Buy regular savings account pays 2.5% gross interest on balances up to £20,000 and after 6 months of saving at least £50 a month, allows customers to apply for one of its 95% loan-to-value ratio mortgages.