Yorkshire Building Society has announced the launch of a 95% mortgage.

The first-time buyer five-year fix is set at 3.99 per cent and charges a £995 fee. It includes free standard valuation.

The mortgage is not available for flats or new build homes and is only available through one of the lender’s own mortgage advisers.

It does not use the government’s mortgage guarantee scheme, which other lenders will be offering from today.

YBS senior mortgage manager senior mortgage manager Ben Merritt says: “It’s been a difficult year for people with limited deposits to get on to, or move up the property ladder but as we, hopefully, come out of the other side of the pandemic they’re once again starting to see more options available to them.

“Only a matter of weeks ago it may have seemed like an impossible feat for some people with a 5% deposit to become homeowners, but we’re pleased the introduction of our latest mortgage will only add to the choice and availability of 95% home loans.”