The mutual will accept loans of up to £750,000 on an interest-only basis.

The five-year fixed is available up to 75% LTV, with an arrangement fee of 0.2% or a minimum of £2,000.

Carole Charter, marketing manager at the Cambridge Building Society, said: “Larger loans are not suitable for everyone, but there are people out there who would benefit from this unique product.”

She added: “The Cambridge is committed to offering a range of options for borrowers and the larger loan mortgage is a product that we feel we need to be able to offer our wealthier customers looking to purchase a house in this price range.”