Low Deposit Mortgages
Struggling to save a large deposit? You might be closer to owning your dream home than you think. Explore your options for buying with just a 5% deposit.
Getting on the Ladder with Less
Saving for a deposit is often the biggest hurdle for first-time buyers. The good news is that you don't necessarily need a 10% or 20% deposit to buy a home. There are several schemes and mortgage products designed to help you buy with a smaller upfront amount - typically around 5%.
Your Low-Deposit Options
95% LTV Mortgages
A standard 95% Loan-to-Value (LTV) mortgage allows you to buy a property with just a 5% deposit. Many high-street lenders offer these products, backed by the government's Mortgage Guarantee Scheme.
- Available on existing and new build homes
- Requires a good credit score
Guarantor Mortgages
If you have family members willing to help, a guarantor mortgage (or Joint Borrower Sole Proprietor) uses their income or property as security, allowing you to borrow more or buy with zero deposit in some cases.
- Can boost your borrowing capacity
- Protects parents from additional stamp duty