Accord Mortgages Launches £5K Deposit Mortgage for First-Time Buyers: New Criteria and Support Features Revealed

Finding an affordable way onto the property ladder can be challenging for first-time buyers in the UK. This is especially true with rising house prices and tougher deposit requirements. Accord Mortgages has unveiled a ground-breaking new mortgage proposition called the Accord deposit mortgage 2025. It allows eligible first-time buyers to purchase a home with just a £5,000 deposit. This offers greater flexibility, increased lending opportunities, and additional features. These are designed to help more buyers say yes to their first home.

What Is the £5K Deposit Mortgage?

The standout feature of Accord’s latest offer is its £5K Deposit Mortgage. It is designed specifically to make homeownership more accessible for first-time buyers who have limited savings.

• Deposit Requirement: Flat £5,000 deposit for buyers, even for properties valued up to £500,000.
• LTV Range: Available for Loan-To-Values (LTVs) between 95.01% and 99%.
• Property Types: Eligible for homes priced from £100,000 to £500,000. Note: New builds are excluded.
• Applicant Criteria: At least one applicant must be a first-time buyer. Higher credit scores are required compared to standard cases. Accord deposit mortgage 2025 is designed to address such needs.

Updated Lending Criteria & Flexible Support Features

Alongside the headline product, Accord Mortgages has announced several criteria enhancements and support tools to help a broader range of first-time buyers, including those with affordability challenges or complex circumstances.

• Boosted Loan-To-Income (LTI): Eligible households with a minimum joint income of £50,000 can borrow up to 5.5x their income (up to 95% LTV) – ideal for applicants needing a higher borrowing multiple.
• Joint Borrower Sole Proprietor (JBSP) Lending: Applicants can include a family member on the mortgage to enhance affordability—useful for those with limited income but family support.
• Cascade Score: If an applicant does not meet the higher credit score for the £5K Deposit Mortgage, Accord’s Cascade Score system automatically assesses eligibility for alternative suitable products, maximising acceptance chances.

Who Benefits Most From These Changes?

• First-time buyers with modest savings—the £5,000 deposit dramatically reduces the upfront cost barrier. Accord deposit mortgage 2025 offers advantages for such buyers.
• Applicants in higher-value housing areas—product is available for purchases up to £500,000.
• Those with family support or higher household incomes—flexible criteria and JBSP options help more applicants qualify and maximise their borrowing potential.
• Buyers who just miss top-tier credit scores—Cascade Score gives a second chance for approval.

Why Choose Accord Mortgages?

Accord Mortgages is recognised for its innovative, customer-centric products, particularly for first-time buyers and those facing affordability challenges. Here are some reasons why borrowers and brokers value Accord:

• Market-leading low deposit solutions – very few UK lenders currently offer a £5K deposit mortgage for non-new build properties. Accord deposit mortgage 2025 strengthens its position in the market.
• Flexible underwriting – options like JBSP and income multiplier boosts open doors for more applicants.
• Automatic product matching – the Cascade Score ensures clients are considered for a wide range of products, not just a single offering.
• No new build restriction – although new builds are not included for this specific product, Accord’s wider range supports many other scenarios.

How to Take the Next Step

If you’re a first-time buyer with limited savings or struggling to match affordability criteria elsewhere, Accord’s latest proposition could finally put homeownership within your reach. Every borrower’s situation is unique. Contact our expert mortgage advisors for a tailored assessment and up-to-date product details.

Call now, or get in touch online for personalised advice on your first mortgage application.

Frequently Asked Questions

• Who can qualify for Accord’s £5K Deposit Mortgage?At least one applicant must be a first-time buyer. Homes must be priced £100k–£500k (excluding new builds), and applicants need a higher-than-average credit score.
• How do the new changes affect my maximum loan amount?With the Boost LTI feature, qualifying households earning over £50,000 can borrow up to 5.5 times their income (at up to 95% LTV).
• Can I buy a flat or maisonette with the £5K deposit?Yes, the £5K Deposit Mortgage is available for eligible flats and maisonettes, provided all other criteria are met.
• What if I don’t quite meet the required credit score?Accord’s Cascade Score process will automatically consider you for other suitable products, increasing your likelihood of acceptance.
• How do I apply or find out if I’m eligible?Contact our experienced mortgage brokers for a personalised eligibility check and to start your application process.