The £5k Deposit Mortgage                                                

Take that first step onto the property ladder with a £5k Deposit Mortgage for first time buyers. 

Available only to first time buyers
Minimum deposit: £5,000
Maximum property value: £500,000
Maximum loan to value: 99%
Not available for flats or new build houses
Not available in Northern Ireland.

If you’re applying for a joint mortgage, one applicant must qualify as a first time buyer. Neither applicant must currently own a property. You must both be aged 70 or under at the end of your planned mortgage term.

family moving into new home

How does the £5k deposit mortgage work?

To get a £5k Deposit Mortgage, you'll need to have at least a £5,000 deposit. For example, if you wanted to buy a home worth £300,000:

£300,000  =



£5k deposit



Mortgage amount
Is a £5k mortgage right for me?
Exclusively for first time buyers
Helps you get your foot on the ladder sooner
No need to save such a big deposit
You could borrow between £95,001 and £495,000 if you meet our lending criteria.
Things to consider with a £5k mortgage
House prices can fall. Think about the impact of negative equity
You can’t use this mortgage to buy a flat or a new build house
Future mortgage deals could be harder to find.

Ready to make the first move?

You’ll need to call us for Decision in Principle about a £5k Deposit Mortgage.
Instant decision
Valid for 30 days
Doesn't affect your credit score.
Talk to our mortgage specialists.
9am to 5pm Monday to Friday (excluding bank holidays)
9am to 1pm Saturday
Calls to 03 numbers are charged at the same rate as 01 or 02 numbers from all phones.
father and son sitting on tailgate of car

How to get a £5k Deposit Mortgage

Number 1

Get a Decision in Principle (DIP)

Call us on 0345 127 2728 for a Decision in Principle (DIP) and to find out how much you could borrow. 

You may need a DIP to make an offer on a home. 
Number 2

Apply for a mortgage

Complete a full application over the phone.
Number 3

Get your mortgage offer

We'll value your home and check your credit history. Then we'll be in touch within 15 working days.
Number 4


Once the legal work is complete, you'll exchange contracts and set a completion date. 

This is when you'll get the keys to your new home.

Saving for your mortgage deposit?

We understand that even with a low deposit mortgage, it can be a hard slog saving the deposit you need to get you into your first home.

Our brand-new savings account is here to help you get moving. It's called the First Home eSaver and it's designed especially for first time buyers. 

Exclusively for first time buyers
Open from £1
Save up to £500 per month for 2 years
Interest paid annually
One withdrawal day per year, based on the anniversary of account opening, plus closure.
Money in a savings jar
two men looking through seaside binoculars

Learn more about mortgages

Find more about first time buyer mortgage in our helpful guide, including:
Key steps in the home-buying journey
A quick guide to mortgages
Tips on how to work out what you can afford.
Call us
Chat to our mortgage specialists about your options.
9am to 5pm Monday to Friday (excluding bank holidays)
9am to 1pm Saturday
Calls to 03 numbers are charged at the same rate as 01 or 02 numbers from all phones.
Book an appointment
Book an appointment and we'll call you back.