Borrowers can fix until 2024 at a rate of 3.39 per cent or opt for a three-year discount at 2.99 per cent. Both options come with a product fee of £999.

To qualify either the applicant or an immediate family member, must have been a Buckinghamshire Building Society member for a minimum of 12 months.

Immediate relatives can be either children, parents, grandparents, or grandchildren.

Chief executive Gerard O’Keeffe said: “In the current climate, it is very difficult to access mortgages without very large deposits and many lenders have withdrawn high LTV mortgages.

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“We would like to offer our members access to a 90 per cent LTV mortgage product.

“We know that this is meeting a real need, particularly for first-time buyers and young people looking to get a foothold on the property ladder, who can afford mortgage repayments but do not have the larger up-front deposits now required in the market.”