The five-year fixed at 90 per cent is now 3.59 per cent, down from 3.79 per cent while the alternative at 85 per cent LTV is 2.89 per cent, from 3.09 per cent. 

Both products have minimum loan amounts of £150,000, a £199 application fee and are not available on new builds and flats. 

The availability of these products has also broadened since the mutual’s return to the high LTV market in November, where mortgages were limited to first-time buyers in the local Melton area.  

The high LTV offerings are now eligible to buyers in England and Wales but London properties are still excluded. 

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Dan Atkinson, head of intermediaries at the Melton, said: “We’ve supported homeowners throughout the pandemic and to help our local first–time buyers we re-entered the high LTV market in November last year with a locally restricted product. 

“To keep up with the ever increasing demand for low deposit mortgages, we’ve now removed this restriction to make our products available across the whole of England and Wales, with the exception of properties in London.”