New buyers spoiled for choice

Selection of low-deposit mortgage deals 'hits 17-year high'

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The number of low-deposit mortgages on the market has reached a 17-year high, according to a financial information website.

Moneyfacts counted 1,360 mortgage products requiring deposits of 5% or 10% in September marking the highest total since 1,532 options in March 2008.

The low-deposit deals now make up around a fifth (19%) of the homeowner mortgage market overall, its analysis found.

Lower deposit deals are often used by first-time buyers to get onto the property ladder.

The research looked at mortgages on the first available day of each month.

It also found the average "shelf life" of a mortgage was 17 days, down from 21 days in September 2024.