The products are fixed for two and five years, with rates of 3.98 per cent for a fee-free two-year fix and 3.78 per cent for the £999 fee-paying alternative.
The five-year fixed rate with no fee is priced at 3.89 per cent and the option with a £999 fee has a rate of 3.79 per cent.
After the fixed rate period, these will revert to 4.41 per cent for two-year fixes and 4.25 per cent for five-year fixes.
These are available to borrowers with a minimum salary of £25,000 and applicants must be employed, not self-employed or a contractor. Additional bank work income from NHS workers may be considered.
Applicants must have no missed payments in the last three years and Generation Home will only lend at 95 per cent LTV on houses. Flats and new-build properties are not eligible.
The maximum loan size is £500,000.
The lender said its recent funding allowed it to initially offer 95 per cent LTV mortgages to NHS employees then extend it to the whole of market.
Generation Home is currently distributed through SimplyBiz, Legal and General Mortgage Club and Mortgage Advice Bureau brokers.
Sophia Guy-White (pictured), co-founder of Generation Home, said: “It’s well known that first-time buyers struggle to save enough for a deposit. We hope that by offering mortgages with five per cent deposits, we can make the difference for aspiring homeowners.”
