A new 100 per cent mortgage with a 1 per cent cashback option has now become available. The difficulties first time buyers encounter trying to get a foot on the property ladder are regularly reported on. To assist these borrowers, we have access to more 100% mortgage products with a new straightforward 100% loan. It comes with a cashback of 1% of the loan amount, there are no application or completion fees and there is also the added incentive of a free valuation up to £335. The interest rate is variable at 6.50% and with no early repayment charges (other than repayment of the cashback during the first three years), borrowers can pay off the loan - in full or part - at anytime.