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99% loan to value mortgage

99% loan to value mortgage for first time buyers – minimum £5,000 deposit

The 90% 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 from 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.

DepositProperty ValueEstimated Mortgage Costs

The figures above are based on maximum borrowing and 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