A number of UK mortgage lenders are bringing back 5% deposit mortgages as the government's Help to Buy scheme comes to an end next year.

Nationwide and Santander have both introduced a 95% mortgage, meaning buyers will only need a 5% deposit. In recent years, that has only been possible through the government's Help to Buy scheme, which funds 20% of the mortgage.

Without the help of government schemes, buyers have generally had to fund deposits of 10%, which is upwards of £26,000 based on the average house price.

Nationwide's 95% mortgage is the first it has offered since 2008.

"Nationwide's move significantly increases the society's lending in the first time buyer market and widens consumer choice," said Henry Jordan, Nationwide's head of mortgages.

Miguel Sard, Santander's managing director of mortgages, said: "There is now a healthy market for customers with smaller deposits."

He said Santander was "ready to extend our commitment to lending up to 95% loan-to-value without the need for government support".