In a move that will please many first-time buyers, Saffron Building Society has relaunched its 95% mortgage, with a promise to consider prospective buyers' rental payment history in its affordability calculations.
The mortgage has a rate of 6.49%, which is fixed until 29 February 2016, and a £195 fee.
If you apply for the mortgage, Saffron Building Society says that it will use a combined assessment of your rental payment history, disposable income and ability to afford the mortgage to assess your application alongside standard credit history checks.
You will need to have at least 12 months' rental history in order for it to be considered.
"We know that there are many potential first-time borrowers who are capable of supporting a mortgage as they have been paying these amounts in rent already, but are 'frozen out' of the market by the large deposits required," says Jon Hall, chief executive of Saffron Building Society.
"We steer clear of the 'computer says no' approach adopted by too many lenders; for example looking at affordability using rental history, not just income multiples. Our manual underwriting looks at each case individually to assess the affordability of the mortgage for the applicant, making it highly suitable for first-time buyers."
Unfortunately, it is only available to people wanting to buy a home in Essex, Hertfordshire, Norfolk, Suffolk and Cambridgeshire.