According to figures from MoneyFacts UK Mortgage Trends Treasury Report, the number of mortgage deals that need a deposit of just 5% or 10% have risen to their highest levels since March 2008.
The extra choice available is a huge boost for potential buyers, particularly those looking to buy their first home, with mortgage choices being almost double compared to two years ago.
For buyers able to offer a deposit of 5% of the home loan, there are 442 mortgages to choose from, according to Moneyfacts.
Two years ago, the choice was from fewer than half of that total, at 204.
Borrowers able to pay a 10% deposit now have 845 products to choose from, up from 684 in April 2023.
Low-deposit mortgage options and the influx of mortgage choices means it is a great time to buy and sell houses, as mortgages are now more accessible to a larger range of people, as less money is required up front.
To find out how you can make the most of low-deposit mortgage options, visit our Sales Centres where our Sales Executives will be able to put you in contact with our expert Mortgage Advisors! Check out our current developments here.
We also offer a range of Buying Schemes, designed to give you a helping hand to make our house your home – in particular, taking advantage of our Mortgage Subsidy, Deposit Boost, and Parent Power Schemes will be a direct assist with a low-deposit mortgage. Check further details and your eligibility for these schemes here!