"It’s been a tough year for borrowers with a smaller deposit so I’m glad we can offer something for those who need it."
The Society has launched a new two-year fixed rate mortgage at 3.99% with free standard valuation and no arrangement fee.
The product will sit outside of the government’s mortgage guarantee scheme and is available exclusively through the intermediary channel for the purchase and remortgage of properties in England and Wales.
Ashley Pearson, BDM at The Loughborough, said: “It’s been a tough year for borrowers with a smaller deposit so I’m glad we can offer something for those who need it. The 5% deposit can be from the borrowers’ own savings or gifted.
"Of course, we also offer mortgages for those with little or no standard deposit from our Family Assist range, but these need family support and not everyone has that."