The best low deposit mortgages for first-time buyers where you can buy a home with no savings [Video]

ASPIRING homeowners have more and more ways to get on the ladder with very small deposits or without any savings at all.

Despite record house prices, the number of first-time buyers last year jumped by almost 20% from 2023, according to the latest data from Halifax.

The average first-time buyer is now 33 years old, and forking out a whopping deposit of £61,090 for a home worth an average £311,034, the data showed.

Mortgage lenders typically require borrowers to have a deposit of at least 5% of the property price and for some the minimum is 10%.

This means you usually need to save a deposit worth tens of thousands of pounds.

The average house price is £299,138 in January – a 5% deposit works out at £14,956 or 10% is £29,913.

But the good newsis that more lenders are offering …