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Tipton & Coseley BS 3 Year Fixed

Initial Rate
2.99% Fixed to 30/09/2024
APRC
4.40%
Product Fee
£0
Monthly Repayment
£675.01

Continue on Fluent Mortgages' website + More Info

Lender:
Tipton & Coseley BS
Max First Time Buyer LTV:
99%
Max House Purchase LTV:
0%
Max Remortgage LTV:
0%
Min Loan:
£100,000
Max Loan:
£250,000
Product Description:
2.99% Fixed to 30/09/2024
Incentives:
No arrangement fees

Initial Monthly Repayment:
£675.01 x 40
Ongoing Monthly Payments:
£809.47 x 260
Total Amount Payable:
£238,612.60
Total Interest Payable:
£94,962.60
Valuation Fee:
£225
Exit Admin Fee:
£125
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 30/9/24: 3/2/1% Outstanding Balance

Mansfield BS 3 Year Discounted Variable

Cashback Available

Initial Rate
3.05% Discounted Variable for 3 years (2.30% disc)
APRC
4.90%
Product Fee
£199
Monthly Repayment
£679.46

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Lender:
Mansfield BS
Max First Time Buyer LTV:
100%
Max House Purchase LTV:
100%
Max Remortgage LTV:
0%
Min Loan:
£50,000
Max Loan:
£250,000
Product Description:
3.05% Discounted Variable for 3 years (2.30% disc)
Incentives:
£400 cashback

Ongoing Monthly Payments:
£679.46 x 36
Total Amount Payable:
£247,733.96
Total Interest Payable:
£104,340.96
Valuation Fee:
£169
Exit Admin Fee:
£125
Early Repayment Charge:
Yes
Early Repayment Charge Details:
1st 3 yrs: 3% Mortgage Advance

Mansfield BS 3 Year Discounted Variable

Cashback Available

Initial Rate
3.05% Discounted Variable for 3 years (2.30% disc)
APRC
4.90%
Product Fee
£199
Monthly Repayment
£679.46

Continue on Fluent Mortgages' website + More Info

Lender:
Mansfield BS
Max First Time Buyer LTV:
100%
Max House Purchase LTV:
100%
Max Remortgage LTV:
0%
Min Loan:
£100,000
Max Loan:
£250,000
Product Description:
3.05% Discounted Variable for 3 years (2.30% disc)
Incentives:
£400 cashback

Ongoing Monthly Payments:
£679.46 x 36
Total Amount Payable:
£247,733.96
Total Interest Payable:
£104,340.96
Valuation Fee:
£169
Exit Admin Fee:
£125
Early Repayment Charge:
Yes
Early Repayment Charge Details:
1st 3 yrs: 3% Mortgage Advance

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Loughborough BS 2 Year Discounted Variable

Initial Rate
3.10% Discounted Variable (collared at 2.00%) for 2 years (2.24% disc)
APRC
5.00%
Product Fee
£0
Monthly Repayment
£683.19

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Lender:
Loughborough BS
Max First Time Buyer LTV:
100%
Max House Purchase LTV:
100%
Max Remortgage LTV:
100%
Min Loan:
£90,000
Max Loan:
£400,000
Product Description:
3.10% Discounted Variable (collared at 2.00%) for 2 years (2.24% disc)
Incentives:
Free valuation fees
No arrangement fees

Ongoing Monthly Payments:
£683.19 x 24
Total Amount Payable:
£251,138.44
Total Interest Payable:
£108,118.44
Valuation Fee:
Free
Exit Admin Fee:
£120
Early Repayment Charge:
Yes
Early Repayment Charge Details:
1st 2 yrs: 2% Mortgage Advance

Marsden BS 3 Year Discounted Variable

Bad Credit

Initial Rate
3.29% Discounted Variable to 30/09/2024 (2.41% disc)
APRC
5.20%
Product Fee
£0
Monthly Repayment
£697.44

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Lender:
Marsden BS
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£30,000
Max Loan:
£375,000
Product Description:
3.29% Discounted Variable to 30/09/2024 (2.41% disc)
Incentives:
Free valuation fees for properties valued Max £500K
free valuation admin fees for properties valued Max £500K
No arrangement fees

Ongoing Monthly Payments:
£697.44 x 40
Total Amount Payable:
£254,727.80
Total Interest Payable:
£111,277.80
Valuation Fee:
Free
Exit Admin Fee:
£150
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 30/9/24: 3/3/2% Sum Repaid

Tipton & Coseley BS Discounted Variable

Initial Rate
3.39% Discounted Variable (collared at 2.99%) (1.55% disc)
APRC
3.50%
Product Fee
£0
Monthly Repayment
£705.01

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Lender:
Tipton & Coseley BS
Max First Time Buyer LTV:
100%
Max House Purchase LTV:
0%
Max Remortgage LTV:
0%
Min Loan:
£100,000
Max Loan:
£250,000
Product Description:
3.39% Discounted Variable (collared at 2.99%) (1.55% disc)
Incentives:
No arrangement fees

Ongoing Monthly Payments:
£705.01 x 300
Total Amount Payable:
£212,653
Total Interest Payable:
£69,003
Valuation Fee:
£225
Exit Admin Fee:
£125
Early Repayment Charge:
No

Cambridge BS 2 Year Discounted Variable

Initial Rate
3.49% Discounted Variable for 2 years (1.40% disc)
APRC
4.70%
Product Fee
£199
Monthly Repayment
£712.62

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Lender:
Cambridge BS
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
95%
Min Loan:
£20,000
Max Loan:
£400,000
Product Description:
3.49% Discounted Variable for 2 years (1.40% disc)
Incentives:
Free valuation fees for properties valued Max £1M

Ongoing Monthly Payments:
£712.62 x 24
Total Amount Payable:
£243,030.32
Total Interest Payable:
£99,871.32
Valuation Fee:
Free
Exit Admin Fee:
£60
Early Repayment Charge:
No

Loughborough BS 3 Year Fixed

Initial Rate
3.49% Fixed for 3 years
APRC
4.90%
Product Fee
£0
Monthly Repayment
£712.62

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Lender:
Loughborough BS
Max First Time Buyer LTV:
100%
Max House Purchase LTV:
100%
Max Remortgage LTV:
100%
Min Loan:
£90,000
Max Loan:
£400,000
Product Description:
3.49% Fixed for 3 years
Incentives:
Free valuation fees
No arrangement fees

Initial Monthly Repayment:
£712.62 x 36
Ongoing Monthly Payments:
£845.77 x 264
Total Amount Payable:
£249,457.60
Total Interest Payable:
£106,437.60
Valuation Fee:
Free
Exit Admin Fee:
£120
Early Repayment Charge:
Yes
Early Repayment Charge Details:
1st 2 yrs: 3/2% Mortgage Advance

Leeds BS 2 Year Fixed

Initial Rate
3.54% Fixed to 31/07/2023
APRC
4.70%
Product Fee
£1,499
Monthly Repayment
£716.45

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Lender:
Leeds BS
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£0
Max Loan:
£500,000
Product Description:
3.54% Fixed to 31/07/2023
Incentives:
Free valuation fees (Max £999)
free valuation admin fees

Initial Monthly Repayment:
£716.45 x 26
Ongoing Monthly Payments:
£752.44 x 36
Total Amount Payable:
£247,174.40
Total Interest Payable:
£102,176.40
Valuation Fee:
Free
Exit Admin Fee:
£199
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 31/7/23: 3/2% Sum Repaid

Representative example

A mortgage of £142,500 payable over 25 years initially on a fixed rate for 26 months at 3.54%, reverting to 4.04% variable for 36 months and 5.29% variable for remaining term. 26 monthly payments of £716.45, 36 monthly payments of £752.44, and 238 monthly payments of £835.97. The total amount payable would be £246,424.40 made up of the loan amount, interest £102,176.40 and a product fee £1,499 and valuation fee £0. The overall cost for comparison is 4.70% APRC representative.

Family Building Society 5 Year Fixed

Offset

Initial Rate
3.64% Fixed to 30/09/2026
APRC
3.90%
Product Fee
£599
Monthly Repayment
£724.13

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Lender:
Family Building Society
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£45,000
Max Loan:
£500,000
Product Description:
3.64% Fixed to 30/09/2026
Incentives:
Free valuation fees for properties valued Max £500K

Initial Monthly Repayment:
£724.13 x 64
Ongoing Monthly Payments:
£772.19 x 236
Total Amount Payable:
£230,280.16
Total Interest Payable:
£86,081.16
Valuation Fee:
£175
Exit Admin Fee:
£125
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 30/6/26: 5/4/3/2/1% Sum Repaid

Barclays Mortgage 5 Year Fixed

Initial Rate
3.65% Fixed to 31/08/2026
APRC
3.10%
Product Fee
£0
Monthly Repayment
£724.90

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Lender:
Barclays Mortgage
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£5,000
Max Loan:
£500,000
Product Description:
3.65% Fixed to 31/08/2026
Incentives:
Free valuation fees for properties valued Max £2M
No arrangement fees

Website:
www.barclays.co.uk/intermediaries
Initial Monthly Repayment:
£724.90 x 63
Ongoing Monthly Payments:
£659.73 x 237
Total Amount Payable:
£202,904.71
Total Interest Payable:
£59,524.71
Valuation Fee:
Free
Exit Admin Fee:
£80
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 31/8/26: 3% Sum Repaid

Hanley Economic BS 2 Year Fixed

Initial Rate
3.69% Fixed to 29/06/2023
APRC
4.70%
Product Fee
£299
Monthly Repayment
£727.99

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Lender:
Hanley Economic BS
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
95%
Min Loan:
£30,000
Max Loan:
£500,000
Product Description:
3.69% Fixed to 29/06/2023
Incentives:

Initial Monthly Repayment:
£727.99 x 24
Ongoing Monthly Payments:
£809.71 x 276
Total Amount Payable:
£242,005.72
Total Interest Payable:
£98,451.72
Valuation Fee:
£260
Exit Admin Fee:
£95
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 29/6/23: 2% Sum Repaid

Marsden BS 2 Year Fixed

Bad Credit

Initial Rate
3.69% Fixed to 30/09/2023
APRC
5.50%
Product Fee
£0
Monthly Repayment
£727.99

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Lender:
Marsden BS
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£30,000
Max Loan:
£375,000
Product Description:
3.69% Fixed to 30/09/2023
Incentives:
Free valuation fees for properties valued Max £500K
free valuation admin fees for properties valued Max £500K
No arrangement fees

Initial Monthly Repayment:
£727.99 x 28
Ongoing Monthly Payments:
£878.87 x 272
Total Amount Payable:
£260,386.36
Total Interest Payable:
£116,936.36
Valuation Fee:
Free
Exit Admin Fee:
£150
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 30/9/23: 3/2% Sum Repaid

Halifax 2 Year Fixed

Initial Rate
3.73% Fixed to 31/08/2023
APRC
3.70%
Product Fee
£995
Monthly Repayment
£731.09

Continue on Halifax's website + More Info

Lender:
Halifax
Max First Time Buyer LTV:
0%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£100,000
Max Loan:
£500,000
Product Description:
3.73% Fixed to 31/08/2023
Incentives:

Website:
www.halifax.co.uk
Initial Monthly Repayment:
£731.09 x 27
Ongoing Monthly Payments:
£721.10 x 273
Total Amount Payable:
£218,594.73
Total Interest Payable:
£74,099.73
Valuation Fee:
£200
Exit Admin Fee:
£0
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 31/8/23: 2/1% Mortgage Advance

Halifax 2 Year Fixed

Initial Rate
3.73% Fixed to 31/08/2023
APRC
3.70%
Product Fee
£995
Monthly Repayment
£731.09

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Lender:
Halifax
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
0%
Max Remortgage LTV:
0%
Min Loan:
£25,000
Max Loan:
£500,000
Product Description:
3.73% Fixed to 31/08/2023
Incentives:

Website:
www.halifax.co.uk
Initial Monthly Repayment:
£731.09 x 27
Ongoing Monthly Payments:
£721.10 x 273
Total Amount Payable:
£218,594.73
Total Interest Payable:
£74,099.73
Valuation Fee:
£200
Exit Admin Fee:
£0
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 31/8/23: 2/1% Mortgage Advance

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Lloyds Bank 2 Year Fixed

Cashback Available

Initial Rate
3.73% Fixed to 31/08/2023
APRC
3.70%
Product Fee
£995
Monthly Repayment
£731.09

Continue on Lloyds Bank's website + More Info

Lender:
Lloyds Bank
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£100,000
Max Loan:
£500,000
Product Description:
3.73% Fixed to 31/08/2023
Incentives:
Free valuation fees
free legal fees
£200 cashback

Website:
www.lloydstsb.com
Initial Monthly Repayment:
£731.09 x 27
Ongoing Monthly Payments:
£721.10 x 273
Total Amount Payable:
£217,394.73
Total Interest Payable:
£74,099.73
Valuation Fee:
Free
Exit Admin Fee:
£0
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 31/8/23: 2/1% Sum Repaid

Lloyds Bank 2 Year Fixed

Initial Rate
3.73% Fixed to 31/08/2023
APRC
3.70%
Product Fee
£995
Monthly Repayment
£731.09

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Lender:
Lloyds Bank
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£100,000
Max Loan:
£500,000
Product Description:
3.73% Fixed to 31/08/2023
Incentives:
Free valuation fees
free legal fees

Website:
www.lloydstsb.com
Initial Monthly Repayment:
£731.09 x 27
Ongoing Monthly Payments:
£721.10 x 273
Total Amount Payable:
£217,594.73
Total Interest Payable:
£74,099.73
Valuation Fee:
Free
Exit Admin Fee:
£0
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 31/8/23: 2/1% Sum Repaid

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HSBC 2 Year Fixed

Initial Rate
3.74% Fixed to 31/08/2023
APRC
3.70%
Product Fee
£999
Monthly Repayment
£731.86

0808 291 2452

+ More Info

Lender:
HSBC
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£10,000
Max Loan:
£400,000
Product Description:
3.74% Fixed to 31/08/2023
Incentives:
Free valuation fees

Initial Monthly Repayment:
£731.86 x 27
Ongoing Monthly Payments:
£717.60 x 273
Total Amount Payable:
£217,559.02
Total Interest Payable:
£73,165.02
Valuation Fee:
Free
Exit Admin Fee:
£95
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 31/8/23: 2/1% Outstanding Balance

Teachers BS 2 Year Discounted Variable

Cashback Available

Initial Rate
3.75% Discounted Variable for 2 years (1.14% disc)
APRC
4.80%
Product Fee
£199
Monthly Repayment
£732.64

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Lender:
Teachers BS
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£20,000
Max Loan:
Varies
Product Description:
3.75% Discounted Variable for 2 years (1.14% disc)
Incentives:
Free valuation fees Max £800K of Purchase Price
free valuation admin fees Max £800K of Purchase Price
National Education Union Cashback £100

Ongoing Monthly Payments:
£732.64 x 24
Total Amount Payable:
£244,375.32
Total Interest Payable:
£100,771.32
Valuation Fee:
Free
Exit Admin Fee:
£105
Early Repayment Charge:
Yes
Early Repayment Charge Details:
1st 2 yrs: 3% Sum Repaid

Yorkshire Building Society 2 Year Fixed

Cashback Available

Initial Rate
3.79% Fixed to 31/07/2023
APRC
4.20%
Product Fee
£995
Monthly Repayment
£735.74

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Lender:
Yorkshire Building Society
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£50,000
Max Loan:
£500,000
Product Description:
3.79% Fixed to 31/07/2023
Incentives:
Free valuation fees
£250 cashback

Initial Monthly Repayment:
£735.74 x 26
Ongoing Monthly Payments:
£732.86 x 36
Total Amount Payable:
£233,022.82
Total Interest Payable:
£88,887.82
Valuation Fee:
Free
Exit Admin Fee:
£90
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 31/7/23: 2.5/1.5% Sum Repaid

Representative example

A mortgage of £142,500 payable over 25 years initially on a fixed rate for 26 months at 3.79%, reverting to 3.75% variable for 36 months and 4.49% variable for remaining term. 26 monthly payments of £735.74, 36 monthly payments of £732.86, and 238 monthly payments of £780.99. The total amount payable would be £232,522.82 made up of the loan amount, interest £88,887.82 and a product fee £995 and valuation fee £0. The overall cost for comparison is 4.20% APRC representative.

Barclays Mortgage 5 Year Fixed

Initial Rate
3.85% Fixed to 31/08/2026
APRC
3.10%
Product Fee
£0
Monthly Repayment
£740.42

Continue on Barclays Mortgage's website + More Info

Lender:
Barclays Mortgage
Max First Time Buyer LTV:
100%
Max House Purchase LTV:
100%
Max Remortgage LTV:
0%
Min Loan:
£5,000
Max Loan:
£500,000
Product Description:
3.85% Fixed to 31/08/2026
Incentives:
Free valuation fees for properties valued Max £2M
No arrangement fees

Website:
www.barclays.co.uk/intermediaries
Initial Monthly Repayment:
£740.42 x 63
Ongoing Monthly Payments:
£662.25 x 237
Total Amount Payable:
£204,479.71
Total Interest Payable:
£61,099.71
Valuation Fee:
Free
Exit Admin Fee:
£80
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 31/8/26: 3% Sum Repaid

Cumberland BS 2 Year Fixed

Initial Rate
3.85% Fixed to 01/07/2023
APRC
4.20%
Product Fee
£999
Monthly Repayment
£740.42

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Lender:
Cumberland BS
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£20,000
Max Loan:
£500,000
Product Description:
3.85% Fixed to 01/07/2023
Incentives:
Free valuation fees

Initial Monthly Repayment:
£740.42 x 25
Ongoing Monthly Payments:
£757.96 x 275
Total Amount Payable:
£228,898.50
Total Interest Payable:
£84,449.50
Valuation Fee:
Free
Exit Admin Fee:
£150
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 1/7/23: 2/1% Sum Repaid

Leeds BS 2 Year Fixed

Initial Rate
3.86% Fixed to 31/07/2023
APRC
4.90%
Product Fee
£499
Monthly Repayment
£741.20

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Lender:
Leeds BS
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£0
Max Loan:
Varies
Product Description:
3.86% Fixed to 31/07/2023
Incentives:
Free valuation fees (Max £999)
free valuation admin fees

Initial Monthly Repayment:
£741.20 x 26
Ongoing Monthly Payments:
£754.30 x 36
Total Amount Payable:
£247,375.14
Total Interest Payable:
£103,377.14
Valuation Fee:
Free
Exit Admin Fee:
£199
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 31/7/23: 3/2% Sum Repaid

Representative example

A mortgage of £142,500 payable over 25 years initially on a fixed rate for 26 months at 3.86%, reverting to 4.04% variable for 36 months and 5.29% variable for remaining term. 26 monthly payments of £741.20, 36 monthly payments of £754.30, and 238 monthly payments of £838.03. The total amount payable would be £246,625.14 made up of the loan amount, interest £103,377.14 and a product fee £499 and valuation fee £0. The overall cost for comparison is 4.90% APRC representative.

Cambridge BS 2 Year Discounted Variable

Initial Rate
3.89% Discounted Variable for 2 years (1.00% disc)
APRC
4.90%
Product Fee
£199
Monthly Repayment
£743.54

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Lender:
Cambridge BS
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£95,000
Max Loan:
Varies
Product Description:
3.89% Discounted Variable for 2 years (1.00% disc)
Incentives:
Free valuation fees for properties valued Max £1M

Ongoing Monthly Payments:
£743.54 x 24
Total Amount Payable:
£244,815.48
Total Interest Payable:
£101,256.48
Valuation Fee:
Free
Exit Admin Fee:
£60
Early Repayment Charge:
Yes
Early Repayment Charge Details:
1st 2 yrs: 1% Outstanding Balance

Coventry BS 5 Year Fixed

Initial Rate
3.89% Fixed to 30/06/2026
APRC
4.40%
Product Fee
£999
Monthly Repayment
£743.54

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Lender:
Coventry BS
Max First Time Buyer LTV:
95%
Max House Purchase LTV:
95%
Max Remortgage LTV:
0%
Min Loan:
£0
Max Loan:
Varies
Product Description:
3.89% Fixed to 30/06/2026
Incentives:
Free valuation fees (Max £670)

Initial Monthly Repayment:
£743.54 x 61
Ongoing Monthly Payments:
£782.93 x 239
Total Amount Payable:
£234,275.21
Total Interest Payable:
£89,976.21
Valuation Fee:
Free
Exit Admin Fee:
£0
Early Repayment Charge:
Yes
Early Repayment Charge Details:
to 30/6/26: 5/3/3/1/1% Sum Repaid

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Your home may be repossessed if you do not keep up repayments on your mortgage.

The mortgage data above was supplied by Moneyfacts Group Plc and is updated at the time of mortgage search. The figures and data provided in our tables are for illustration purposes only. While we make every effort to ensure the accuracy of this data you should always confirm the terms on offer with the provider/broker. We do not give any financial advice.

Our mortgage comparison service is partnered with Fluent Mortgages for selections made outside of our featured lenders. Featured lenders are firms with whom we have a direct commercial relationship.

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Published on 05 July 2017. Last updated on 09 November 2020.

Low Deposit Mortgages FAQ

What counts as a low deposit mortgage?

A low deposit mortgage is one which only requires a 5% deposit - in other words you'll only need to stump up 5% of the overall cost of the property.

What is an LTV?

LTV stands for Loan To Value and denotes the ratio of how much you need to borrow compared to the cost of the property. So, for example, if you're buying a property for £150,000 and you have a deposit of £30,000 you only need to borrow £120,000. £120,000 is 80% of £150,000 which means you need an 80% LTV mortgage.

Will I pay a higher rate if I have a small deposit?

Unfortunately, if you have a smaller deposit you are likely to pay a higher rate for your mortgage. Mortgage lenders price for risk and if you have a smaller deposit, you're deemed a higher risk.

What fees will I pay for a low deposit mortgage?

Along with the standard mortgage fees including a booking fee, arrangement fee, valuation fee and legal fees, if you have a low deposit mortgage you may also have to pay what is known as a Higher Lending Charge (HLC). As a high LTV borrower, you're deemed a riskier bet for lenders and the HLC is intended to cover this risk. It is usually a percentage of the mortgage.

What criteria will I have to meet to get a low deposit mortgage?

Your mortgage lender will want to know you can afford the monthly repayments so along with an affordability assessment, looking at your income and outgoings, it'll want you to have a good credit score, no recent arrears or CCJs and be within its age criteria. Lenders tend to have a maximum age limit of between 70 and 85. This is the age at which the mortgage must be paid off.

Can I get a mortgage with no deposit at all?

Yes you can. 100% LTV mortgages have made a return to the market in recent years and there are now a number available. However, most 100% mortgages require you to have a guarantor - essentially someone who will agree to pay your monthly repayments if you can't. You can compare 100% LTV mortgages using NerdWallet's free comparison tool.

How can the government help?

There are a number of government schemes on offer to help you buy a home including Help to Buy, Right to Buy, Shared Ownership schemes and Shared Equity schemes.

How can I compare low deposit mortgages?

Be sure to look at more than just the rate. Mortgage fees - particularly percentage-based arrangement fees - can turn a relatively cheap mortgage into a very expensive choice. NerdWallet's comprehensive comparison tables allow you to sort low deposit mortgages by overall cost so you can work out the most cost-effective solution for you.

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