Can £5,000 Really Get You on the UK Property Ladder? The New 2% Mortgage Explained

Saving a large deposit has traditionally been one of the biggest obstacles separating renters from home ownership. A new mortgage attempts to reduce that barrier significantly, but the headline figure does not tell the whole story.

Qualifying depends on the property, income, monthly outgoings and the lender’s assessment. Buyers must also consider what happens after completion, when repayments and other ownership costs become more important than the initial deposit.