The lender has launched the deal up to 99% loan-to-value (LTV), which requires a 20% security made up of the deposit and a charge on a family member’s main residence.

Alternatively, the 20% can be cash from a family member placed into a Tipton family assist savings account.

The amount of deposit can range from 19% with a 1% charge on the family member’s home, to 1% with a 19% charge.

Tipton said the deal provides a way for first-time buyers to get on the property ladder but can also help movers who want a high LTV mortgage.

It comes as the number of first-time buyer mortgages has dramatically shrunk, with Lloyds Bank recently withdrawing its family support loan.

Cammy Amaira, sales and marketing director at the Tipton, said: “It’s increasingly becoming more difficult for first-time buyers to get onto the property ladder.

“The lockdown has made matters even more challenging as many lenders seek bigger deposits having withdrawn their higher LTV products from the market.

“At the Tipton we are fully committed to this market and the launch of our Flexible LTV Family Assist mortgage is designed to help borrowers obtain a mortgage without the need of a hefty deposit.”