This site uses cookies and by using the site you are consenting to this.
Find out why we use cookies and how to manage your settings.
Close

Ways to get in touch

Close

Visit us

Find your nearest branch Our branches

Call us

Monday to Friday 8:30am - 8:30pm
Saturday 9:00am - 5:00pm

Savings: 0345 601 4021
Mortgages: 0345 601 3180
Other enquiries: 0345 601 3344
Request a callback

Chat to us

Start chat now
Menu Get in touch

We'll get you moving!

With a 5% deposit we can help you move up the property ladder or buy your first home

Low Deposit Mortgages

Our Low Deposit mortgages are available for people who want to buy a home, including first time buyers, and those wanting to move up the property ladder. Your Mortgage Adviser will be happy to help you decide if a Low Deposit Mortgage is the right choice for you.

What is a low deposit mortgage?

Our Low Deposit Mortgages are available with a 5% deposit meaning you could borrow the remaining 95% of the property's value. A lower deposit means that you might be able to make that dream move or buy your first home sooner than you thought!

Fixed rate or variable rate?

A fixed rate mortgage means the interest rate you pay will remain the same for an agreed period. Your monthly payments will also remain the same during the fixed rate term. A variable or discounted mortgage means that the interest rate could go up or down. This means your mortgage payments could also go up or down

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Our current Low Deposit Fixed Rate Mortgages

Product name Initial rate Standard Variable Rate (SVR), currently The overall cost for comparison is Interest type Max LTV Fees Early repayment charge Representative example  
Low Deposit 2 Year Fixed Rate 3.64% 4.74% 4.7% APRC Fixed 95% Application fee: £199

Completion fee: £0
3% in year one
2% in year two

A mortgage of £163,237.00 payable over 29 years initially on a fixed rate for 2 years at 3.64% and then on our Standard Variable Rate of 4.74% for the remaining 27 years would require 24 monthly payments of £759.55 and 324 monthly payments of £857.41.

The total amount payable would be £296,229.04 made up of the loan amount plus interest (£132,768.04), an application fee of £199.00 and a mortgage funds release fee of £25.00.

This example assumes the mortgage funds release fee is added to the loan and that interest is charged on this fee over the mortgage term.

The overall cost for comparison is 4.7% APRC representative.

Find out more
Low Deposit 3 Year Fixed Rate 3.49% 4.74% 4.6% APRC Fixed 95% Application fee: £199

Completion fee: £0
3% in year one
2% in year two
1% in year three 

A mortgage of £218,545.00 payable over 30 years initially on a fixed rate for 3 years at 3.49% and then on our Standard Variable Rate of 4.74% for the remaining 27 years would require 36 monthly payments of £979.48 and 324 monthly payments of £1,124.78.

The total amount payable would be £399,889.00 made up of the loan amount plus interest (£181,120.00), an application fee of £199.00 and a mortgage funds release fee of £25.00.

This example assumes the mortgage funds release fee is added to the loan and that interest is charged on this fee over the mortgage term.

The overall cost for comparison is 4.6% APRC representative.

Find out more
Low Deposit 5 Year Fixed Rate 3.94% 4.74% 4.5% APRC Fixed 95% Application fee: £199

Completion fee: £0

5% in year one
4% in year two
3% in year three
2% in year four
1% in year five

A mortgage of £163,237.00 payable over 29 years initially on a fixed rate for 5 years at 3.94% and then on our Standard Variable Rate of 4.74% for the remaining 24 years would require 60 monthly payments of £787.15 and 288 monthly payments of £852.81.

The total amount payable would be £293,037.28 made up of the loan amount plus interest (£129,576.28), an application fee of £199.00 and a mortgage funds release fee of £25.00.

This example assumes the mortgage funds release fee is added to the loan and that interest is charged on this fee over the mortgage term.

The overall cost for comparison is 4.5% APRC representative.

Find out more
Back to top

Our current Low Deposit 2 Year Discounted Variable Rate Mortgage

Product name Initial rate Standard Variable Rate (SVR), currently The overall cost for comparison is Interest type Max LTV Fees Early repayment charge Representative example  
Low Deposit 2 Year Discounted Variable Rate 2.99%
(1.75% discount off our SVR)
4.74% 4.6% APRC Variable 95% Application Fee: £199

Completion Fee: £0
N/A

A mortgage of £163,237.00 payable over 29 years initially on a discounted variable rate for 2 years at 2.99% and then on our Standard Variable Rate of 4.74% for the remaining 27 years would require 24 monthly payments of £701.59 and 324 monthly payments of £853.50.

The total amount payable would be £293,571.16 made up of the loan amount plus interest (£130,110.16), an application fee of £199.00 and a mortgage funds release fee of £25.00.

This example assumes the mortgage funds release fee is added to the loan and that interest is charged on this fee over the mortgage term.

The overall cost for comparison is 4.6% APRC representative.

Find out more

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE