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Home Mortgages New customers First Step

Our First Step (up to 98% loan-to-value) mortgage is designed to help first time buyers like you get on the property ladder sooner with a smaller up-front cost. 

What is First Step?   

First Step lets you borrow up to 98% of your home’s value with a minimum deposit of just £5,000. Mortgage values range from £96,000 to £350,000, and the 5-year fixed rates mean your monthly payments stay the same, giving you peace of mind. 

What might this look like? 


First Step (Up to 98%) mortgageStandard 95% mortgage
House price £210,000 £210,000 
Mortgage value£205,000 £199,500 
Deposit £5,000 £10,500 
Loan-to-value (LTV)97.62% 95% 

Want more detail? 

Let’s say you're buying your first home for £210,000. With First Step, you would only need a £5,000 deposit. This means your mortgage would be £205,000, with a 97.62% loan-to-value (LTV). 

By comparison, if you go for a mortgage with a 95% LTV, you would need to save a deposit of £10,500. That means with First Step it could reduce the amount of deposit you would need, helping you buy sooner and keep more of your savings for moving costs or setting up your new home. 

Lending approval is subject to affordability review and meeting our lending policy criteria. 

Things to consider:

First Step may be a good fit if: 

  • You are a first time buyer

  • You have at least £5,000 for a deposit

  • The purchase price of the property is between £101,000 and £350,000

  • You want a 5-year fixed rate mortgage

First Step may not be a good fit if: 

  • You need to borrow less than £96,000 or more than £350,0000

  • Your deposit is less than £5,000 or was a gift

  • You are buying a new build home or flat

  • You are using an affordable home ownership scheme like Shared Ownership

  • You don’t want a 5-year fixed rate mortgage

Happy man and woman sat on a sofa looking at a mobile phone, on a video call.

How to apply

If you would like to talk to us about your options, arrange an appointment with one of our Mortgage Advisers or call 0345 606 4488. Our lines are open 8am - 6pm, Monday to Friday.

Book an appointment View all mortgage products

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