The deal, available for purchase or remortgage, offers a discount of 1.60% from the mutual’s SVR of 4.59% and is available to those in the wider East Anglia area.

The mortgage has a 1.25% application fee, with a minimum fee of £1,499, which can be paid upfront or added to the loan.

Carole Charter, marketing manager at the Cambridge Building Society, said: “This discounted product is limited and we are expecting high volumes of business.

“We are continuing to look at how we can provide the best products and services to intermediaries and this product comes at a time when competitive rates are as important as providing a good service.”