Loughborough Building Society has launched a 95% loan-to-value (LTV) mortgage product.
Ashley Pearson, business development manager at The Loughborough, said: “It’s been a tough year for borrowers with a smaller deposit so I’m glad we can offer something for those who need it.
“The 5% deposit can be from the borrowers’ own savings or gifted.”
The offering is a 95% LTV 2-year fix at 3.99%, with free standard valuation and no arrangement fee.
Early repayment charges do apply throughout the fixed period.
It is available exclusively through the intermediary channel for the purchase and re-mortgage of properties in England and Wales.