The lender will launch three products exclusively through the Santander for Intermediaries website today, with the mortgages becoming available on sourcing systems tomorrow.

Products are available at 75% with a further 20% equity loan contributed by government. These include a two-year fixed at 3.29%, a five-year fixed at 3.49% and two-year tracker at 3.29%.

Santander will offer these mortgages with a free valuation, no booking fees and £250 cashback on completion.

Figures released earlier this month showed that almost 7,000 Help to Buy reservations had been made in the three months following its launch with over 1,000 mortgages already completed.

Phil Cliff, director of Santander mortgages, said: “Santander is delighted to be joining the government’s Help to Buy equity loan scheme, which we believe will play an important role in helping both first-time buyers and homemovers looking to buy new build properties.

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“Our new Help to Buy range offers competitively priced products with no upfront booking fees, extending the affordable housing options we can offer to customers who have a deposit from 5%; where they can also choose from our range of NewBuy and shared ownership ‘exclusive’ mortgages.”

As part of the changes Santander will withdraw its fee-free 75% LTV five-year fixed rate product from its range.

Other major lenders currently offering Help to Buy equity loan products include Barclays, Halifax, Nationwide and NatWest.