Marsden Building Society has launched a 95% loan-to-value residential mortgage at 4.99%.

The five-year fixed rate runs until the end of April 2030 and is available on a repayment basis with a maximum loan of £500,000.

Borrowers do not have to undergo credit scoring and there are no valuation fees on properties up to £500,000.

Remortgage borrowers can also get their standard legal fees covered when using the lender’s nominated firm.

The product has no booking or arrangement fees.

To qualify, the property must be worth at least £100,000.

Head of lending Donna Barclay says: “We’re excited to relaunch this product into our intermediary portfolio, specifically designed for homeowners seeking higher LTV residential lending. 

“This offering caters to a range of clients, from first-time buyers to remortgage cases, which we hope will equip mortgage advisers with more lending options for their clients across England and Wales.”