Saving for a deposit can feel like the biggest hurdle to buying your first home. The good news is that some lenders now offer mortgages that allow eligible first-time buyers to get onto the property ladder with a deposit of just £5,000.
Depending on your circumstances, you could borrow up to 99% of your property’s value, making home ownership possible sooner than you may have imagined.
Key Features
- Minimum deposit of £5,000
- Up to 99% Loan-to-Value (LTV)
- Available exclusively to eligible first-time buyers
- Property purchase prices from £100,001 to £500,000
- Mortgage amounts from £95,001 to £495,000
- Mortgage terms of up to 40 years (subject to lender criteria)
- New build properties are not eligible
Every lender has its own affordability checks and lending criteria, so it’s important to understand your options before applying.
At FPG Mortgages, we’ll assess your circumstances, compare suitable lenders and help you find the mortgage that’s right for you – making your journey to your first home as straightforward as possible.