The Cambridge Building Society has launched a 95% LTV mortgage product at 5.39%.

It will be available to the Society’s Cambridge Select group and through Sesame, PMS and Legal & General.

The two-year fixed rate product also offers customers a free valuation and “low” application fee.

The Cambridge recently re-launched its mortgage range to intermediaries.

Andy Lucas, commercial director at The Cambridge, said: “We have a commitment to supporting first time buyers and this product, which is available both direct and through intermediaries, demonstrates this.

“There’s an increasing demand for low deposit mortgages and lenders like The Cambridge have been offering these products for a long time.”

Robert McCoy, senior product and communications manager at Sesame Bankhall Group, added: “The Cambridge have been a supporting this area of the market for a while and we a pleased to partner with them on this deal.

“This 95% LTV mortgage will be welcomed by our members and their customers.”