Struggling to save a big deposit doesn’t mean your dream home is out of reach. With government schemes, family support, and specialist lenders, you still have options — even with just 5%.
💡 What’s the Minimum Deposit for a First-Time Buyer?
- 5% is typically the minimum for standard mortgages
- Some lenders or schemes may allow 0% with a guarantor or other support
- The bigger the deposit, the better the interest rates
🏠 Low Deposit Mortgage Options
💷 95% LTV Mortgages
You borrow 95% of the property’s value — ideal if you’ve got a 5% deposit.
🛠️ Government Schemes
- Shared Ownership – buy a share and rent the rest
- First Homes Scheme – discounts for key workers
- Lifetime ISA – get a 25% bonus from the government on your savings
👨👩👧 Family-Assisted Mortgages
- Guarantor mortgages
- Family deposit boost via savings
- Joint borrower, sole proprietor options
❌ What Might Hold You Back?
- Bad credit — some low deposit lenders require strong scores
- High outgoings or unstable income
- New job or probation period
✅ Tips to Get Approved
- Get a credit check and fix errors
- Reduce debts and unused credit
- Explore schemes or family support
- Speak to a broker who knows first-time buyer deals
💬 First-Time Buyer? Let’s Make It Happen
Even if your deposit’s on the small side, that doesn’t mean you’re out of options. I’ll guide you through what’s available and help you find a mortgage that fits your situation.
✅ 95% LTV and no-deposit options
✅ Access to exclusive first-time buyer deals
✅ Support with government schemes