New 2-year fixed rate mortgage from Barnsley Building Society

Barnsley Building Society has launched a new mortgage deal for people who need to borrow up to 90% of the value of their home.

The product, which has no product fee, is good news for first time buyers as up-front fees can take a real chunk out of a deposit. The product is also available to customers looking to remortgage.

Barnsley, now part of the Yorkshire Building Society group, is offering this competitive two year fixed rate of 6.35%. For anyone looking to set foot on the property ladder, the recent emergency budget might well provide a reason to act without further delay. VAT increases on furniture, white goods and home entertainment products, such as TVs, will take effect on 4 January 2010.

Toni Roberts, Product Manager for Barnsley said: "We've tried to balance the need to help buyers with the need to lend responsibly and we acknowledge there's more to a mortgage than just a headline rate. We are now lending to people with smaller deposits and waiving the product fee. This can make such a difference to the amount a borrower can put down as a deposit."

Novice buyers will have the opportunity to speak with a fully qualified mortgage adviser to help and guide them through the complexities of the home buying process.

The 2 Year Fixed Rate product at 90% LTV is part of a range of new products from the Barnsley.

For more information, visit barnsley-bs.co.uk/mortgages.