£5k Deposit mortgage

Get on the property ladder with a mortgage deposit of only £5,000. Our £5k Deposit mortgage will be available from 18 May 2026.

What is a £5k Deposit mortgage?

Help to get on the property ladder

If you have £5,000 in savings, you can use this towards buying your first home with a £5k Deposit mortgage.

Fixed rate repayment mortgage

With a repayment mortgage, the interest rate stays the same during the fixed term, helping you to budget for your repayments. 

Buying your first home

If you’re a first-time buyer but are struggling to save your deposit, a £5k Deposit mortgage may give you the start you need.

£5k Deposit mortgages explained

What is a £5k Deposit mortgage?

A £5k Deposit mortgage is a 5-year fixed term repayment mortgage. 

From 18 May 2026, if you have savings of £5,000 you can apply for the £5k Deposit mortgage. This mortgage may then get you on the property ladder sooner as you could borrow more than 95% of the property value.

Let's break it down

Is a £5k Deposit mortgage right for me?

Saving for a mortgage deposit can be difficult. With the £5k Deposit mortgage, if you have savings of £5,000 from 18 May 2026 you can apply for the £5k deposit mortgage.

You may qualify if the following applies to you.

  • You are a first-time buyer with a deposit of at least £5,000.
  • You are aged 18 years or over.
  • The property you want to buy is worth between £102,000 and £300,000.
  • The property will be your only residence.

Subject to application.

 

 

Who can’t apply?

  • If your deposit has been gifted to you, rather than your own savings.
  • If you want an interest-only mortgage.
  • The property you want to buy is a new build home.
  • You already have, or have previously had a mortgage.
  • If you want to buy with a help to buy scheme, such as shared. equity, shared ownership and Right to Buy, you won’t be able to apply for the £5k Deposit mortgage.

Before you go ahead

Things to think about

  • High loan-to-value ratio. If you have a high loan-to-value ratio and the value of your property falls, you could owe more money on the mortgage than the property is worth. This is known as negative equity.
  • Monthly mortgage repayments may be higher if you have only paid a £5,000 deposit.
  • If you pay a larger deposit, you may get a lower interest rate.

You could lose your home if you don’t keep up your mortgage repayments

How do I apply for a £5k Deposit mortgage?

Available from 18 May 2026

2. Get an Agreement in Principle (AIP)

Before you apply for a mortgage, you’ll need an AIP. This is obligation-free and only involves a soft credit check, meaning there is no impact on your credit score.

3. Find a home you love

Once you have an idea of how much you can borrow, you can start looking for your new home. Having an AIP will help your search as it shows you’re a serious buyer who can get a mortgage.

Let’s take a closer look

 

Find out what to expect

Learn about the process of buying your first home with our expert guides and resources. Get top tips on saving for a deposit, improving your credit score, making an application and more.

Get first-time buyer help

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Can we help?

Speak to one of our mortgage and protection advisers.
 

Speak to an adviser

Mortgages

Find and apply for the right mortgage with a little help from us. Whether you want to take that first step or plan your next move, your search starts here.

Mortgages

Mortgages

Find and apply for the right mortgage with a little help from us. Whether you want to take that first step or plan your next move, your search starts here.

Mortgages