Buying your first home is an exciting milestone, but saving for a deposit can be one of the biggest challenges for many first-time buyers. Many mortgages require a deposit of at least 5% of the property’s value, which can take time to build while managing everyday living costs.
Our First Step Mortgage is designed to help first-time buyers get onto the property ladder with a smaller deposit. As a low deposit mortgage, it may allow eligible buyers to purchase their first home sooner than they expected.
In this guide, we explain how the First Step Mortgage works, its key features, and what to consider when applying for a first-time buyer mortgage.
