Yorkshire Building Society has launched three two-year mortgages designed to give first-time buyers a foot on the property ladder.

The high loan-to-value (LTV) homeloans are available exclusively to would-be homeowners with 5%, 10% and 15% deposits.

The two-year fixed rate range includes a 1.99% deal at 85% of the property’s value, 2.39% at 90% LTV and 3.89% for those with just 5% upfront.

All the mortgages have a £495 fee, and include free standard valuation plus £500 cashback on completion.

Charles Mungroo, mortgage manager at Yorkshire Building Society, said: “We’re committed to helping people achieve their homeownership ambitions, and we hope these mortgages tailored to those with smaller deposits will really appeal to aspiring homeowners.

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“We know that it is getting harder for young people to buy a home, and many rely on financial support from their parents to make this dream a reality. However, research we recently undertook revealed that this can put a strain on family relationships with many new borrowers feeling guilty for tapping into the Bank of Mum and Dad.”