14/05/2026
Big news for first-time buyers 🥰
Halifax has just launched a £5k Deposit mortgage, available from 18 May 2026. If you have £5,000 saved, you could use it as a deposit to buy your first home, without needing to wait years to build up a bigger pot.
Here’s what you need to know:
⭐ You only need £5,000 of your own savings as a deposit
⭐ It’s a 5-year fixed rate repayment mortgage
⭐ Properties must be worth between £102,000 and £300,000
⭐ You must be a first-time buyer aged 18 or over and can be a joint mortgage
⭐ The property must be your only residence
⭐ New build properties are not eligible
⭐ Gifted deposits do not qualify, the savings must be your own
A few things worth thinking about before you apply:
⭐ With a high loan-to-value mortgage, if property values fall you could owe more than the property is worth
⭐ Monthly repayments may be higher with a smaller deposit
⭐ A larger deposit could get you a lower interest rate
If you’d like to talk through whether this is the right move for your situation, get in touch with the team at Mortgage & Finance Arena. We’re here to help you make sense of your options and find the right route onto the property ladder.
Drop us a message or give us a call today on 01332 300300.
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