99% loan-to-value mortgage for first-time buyers – minimum £5,000 deposit
The 99% loan-to-value mortgage for first-time buyers was launched in March 2024. This is a mortgage designed exclusively for first-time buyers who can provide at least £5,000 cash deposit on their own, or from family-gifted funds.
Please note you will need a very good credit history to be successful with an application for this mortgage.
What is the Mortgage Rate of the 99% Mortgage (minimum £5,000 deposit)
The 99% £5,000 deposit mortgage is offered with an interest rate fixed over 5 years at 5.99%.
99% Mortgage Example Payments
The table below shows the estimated costs of the £5,000 deposit mortgage product.
| Deposit | Property Value | Estimated Mortgage Costs |
| £5,000 | £101,000 | £612 |
| £5,000 | £125,000 | £772 |
| £5,000 | £150,000 | £993 |
| £5,000 | £175,000 | £1,101 |
| £5,000 | £200,000 | £1,000 |
| £5,000 | £225,000 | £1,255 |
| £5,000 | £250,000 | £1,577 |
| £5,000 | £300,000 | £1,899 |
| £5,000 | £350,000 | £2,221 |
| £5,000 | £400,000 | £2,543 |
| £5,000 | £450,000 | £2,864 |
| £5,000 | £500,000 | £3,186 |
The figures above are based on maximum borrowing and the lowest monthly payment (25-year term).
Requirements for a £5,000 Deposit Mortgage
- at least one applicant must be a first-time buyer and aged 21 or over
- minimum deposit of £5,000
- each applicant must have a clean credit record with no missed payments in the last six months
- minimum purchase price £100,001
- maximum age at end of term 70 years
- houses only – no flats or new build properties
- must have permanent right to reside in the UK