Mortgage lender Nationwide has become the first major mortgage lender to sign up to a mortgage guarantee scheme devised by the Home Builders Federation to enable lending at 95% loan-to-value on new build properties.

The building society, which claims to be Britain’s biggest mortgage lender, said it had signed up to the Deposit Unlock scheme set up earlier this year by the Federation (HBF) as a way of allowing buyers with small deposits to buy new build property.

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