CAMBRIDGE Building Society has been praised for its efforts in helping first-time buyers onto the property ladder. The price comparison website www.moneyfacts.com singled out the company for its new fixed-rate mortgage that it believes will be popular with new buyers. It is hoped that helping first-time buyers into the market will stimulate activity at all levels by allowing other home-owners to trade up. "By concentrating efforts on customers within the local lending area, Cambridge Building Society has been able to offer that most endangered species, the first time buyer a fantastic two-year fixed rate," said the website. "Fixed at 5.59 per cent and available up to 90 per cent loan-to-value, this is an extremely competitive product that outshines many of the national lenders' offerings." The building society is also offering a free valuation on these products, and has reduced its arrangement fee from \u00A3999 to \u00A3499 for society members and their families through its family loyalty scheme. Andrew Ferguson, head of sales and marketing, said: "Helping first-time buyers is crucial if we are serious about stimulating the property market in a meaningful way. "There has been a popular misconception that mortgages are available only to buyers with a hefty lump sum of around 25 per cent of the purchase price. This has acted as a brake and has kept first-time buyer activity subdued. "However, with the fixed rate we have introduced, buyers can lock-in their monthly payments for two years with as little as 10 per cent of the purchase price. "In addition to helping first-time buyers, we are also keen to support local people who are perhaps stuck on a variable rate deal and are concerned about future rate rises. In these cases we can offer our remortgage package up to 85 per cent loan-to-value on some of our products. This package includes free legal costs in addition to the free valuation." The building society is poised to launch a high profile campaign highlighting its new range of fixed-rate deals, which will run through July and August.