The mortgage, which allows family members to help close relatives own their own home, is a two-year fixed rate available at 2.95%.

Newcastle said it was always looking for innovative ways to help people get on the property ladder. Its manual underwriting approach, it explained, meant the lender could review each application on its own merits.

John Truswell, head of intermediary mortgages at Newcastle Building Society, said: “We know that for many would-be home buyers, circumstances will have changed over the last few months, meaning a re-think and possibly a different approach when it comes to their borrowing.

“So, we’re delighted to reintroduce our JMSP mortgage to give more options for people wanting to own their own home.

“We’d usually expect these mortgages to be used by parents to support first-time buyer adult children, but the product can also be used to support older generations who would benefit from the support of a family member to continue to live independently.”

JMSP increases the borrowing power of the applicant by allowing them to apply for a mortgage using the supporting income of a family member – mortgage affordability is calculated using income from both the occupying and non-occupying borrower.

Although the mortgage will be in joint names, the occupying borrower will own the property and will be the sole name on the title deeds.

The reintroduced two-year deal comes with £500 cashback to help with legal or moving fees, free standard valuation, and 10% overpayments per annum.

An early repayment charge of 2% applies until 31 December 2021 and a 1% early repayment charge until 31 December 2022. The product is available to those aged 18 to 80.