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Buying a home with a 5% deposit is more achievable than many people realise.
At Strive, we specialise in 5% deposit mortgages and high loan-to-value (LTV) lending. We’ve helped thousands of buyers secure their homes with smaller deposits — using smart planning, lender expertise, and advanced affordability tools to make homeownership a reality sooner.
So, how much can you actually borrow with a 5% deposit mortgage? Let’s take a closer look.
What Determines How Much You Can Borrow?
Several key factors influence how much a lender will offer you, including:
- Your income and employment type
- Whether you’re a first-time buyer or home mover
- Your credit score and financial history
- The lender’s affordability model
- The product type and loan size
- Whether you’re using a scheme or incentive to boost borrowing
Every lender has its own way of assessing affordability, so the difference between one lender and another can be significant. That’s why using a broker who can compare across the market gives you a real advantage.
How Much Can You Borrow with a 5% Deposit?
As a general rule, most lenders offer up to 4.5 times your income on a 5% deposit mortgage.
That said, some will stretch to 5 or even 5.5 times, and a select few can reach 6 times — depending on your income, job type, and overall financial profile.
Let’s break down the main factors that affect this.
Income Level
Income is one of the biggest drivers of how much you can borrow.
Most lenders cap borrowing at 4.5x income for 95% LTV mortgages. However, higher earners — typically those earning £50,000–£75,000+ — may qualify for 5x or 5.5x multiples.
Some specialist products, such as the Nationwide Helping Hand mortgage, allow first-time buyers with smaller incomes (from around £30,000 single or £50,000 joint) to borrow more than the standard limit, provided they meet other criteria.
For lower incomes (around £25,000 or less), borrowing multiples may fall below 4.5x, as lenders take a more cautious approach.
Buyer Status
There tend to be more 95% LTV mortgage options available for first-time buyers than for existing homeowners.
Lenders and government-backed schemes often prioritise first-time buyers with smaller deposits, while home movers may find fewer options — though sometimes higher income multiples are available depending on the lender and product type.
Product Type
Your choice of mortgage product can directly influence how much you can borrow.
Lenders often allow higher borrowing multiples for borrowers choosing a 5-year fixed rate or longer. That stability gives lenders more confidence, so they’re willing to be more flexible on affordability.
Loan Size
Loan size can also be a limiting factor.
Many lenders require at least a 10% deposit for loans above £500,000, which can reduce the number of available options at 5%. There are exceptions, but at higher price points, product choice tends to narrow — not necessarily because of affordability, but due to policy restrictions.
Outstanding service and clear communication are at the core of what we do. But don’t just take our word for it—read firsthand experiences from our clients and discover why they rate us a 5-star mortgage broker.
5% Deposit Mortgage Affordability Tools
At Strive, we use professional broker software that scans all major lenders’ affordability calculators in seconds.
This allows us to instantly compare what you could borrow with each lender — factoring in your income, deposit, commitments, and goals.
While public lender calculators give you a rough idea, they only show one piece of the puzzle. Our systems show the full picture, so we can match you with lenders most likely to offer the strongest affordability and best rates.
Real Example: How Lenders Differ on a 5% Deposit Mortgage
To give you an idea of how varied lender affordability can be, here’s an example taken from our sourcing system.
This snapshot shows how much different lenders are willing to offer a first-time buyer with a £75,000 income and a 5% deposit.
The results vary massively — some lenders are comfortable offering close to 6x income, while others cap at around 4x.
This highlights just how much difference the choice of lender can make. Two buyers with identical circumstances could have a gap of tens of thousands of pounds between what one lender and another might offer.
Lender Maximum Borrowing Limits
Some lenders apply strict affordability caps, often around 4.5x income. Others have more flexible models and can stretch further depending on the strength of your application.
Our technology gives us an instant overview of which lenders allow higher multiples, helping us find the sweet spot between generous lending and long-term affordability.
Keep in mind — these limits aren’t specific to 5% deposit mortgages, but they give a solid indication of each lender’s general appetite to lend.
Other Factors That Impact Borrowing
While a 5% deposit is the minimum many lenders accept, a few circumstances may require more, such as:
- Properties with non-standard construction
- Applicants with a history of credit issues
- Non-UK nationals or those with limited UK residence
- Second homes or investment properties (where a 10–25% deposit is often required)
Each lender has its own approach, which is why tailored advice is so important before applying.
How to Increase How Much You Can Borrow
If you’re trying to maximise your borrowing potential, here are some proven ways to help:
- Increase your deposit – You may unlock higher income multiples at 10%, 15% or 20% deposit levels.
- Extend your mortgage term – A longer term reduces monthly payments and can improve affordability.
- Reduce debts – Paying off loans or credit cards frees up more borrowing power.
- Choose a 5-year fixed rate – Longer fixes often unlock higher lending limits.
- Apply jointly or consider a JBSP mortgage – Adding another income can make a big difference.
- Keep your credit profile strong – Lenders reward responsible financial behaviour with better terms.
Even small adjustments can make a meaningful difference — and we’ll help you identify where you can gain the most.
Speak to a mortgage expert today for the best deal.
How Strive Can Help
At Strive, we specialise in 95% mortgages and helping buyers make their move with smaller deposits.
Our expert team uses advanced affordability software to scan all major lenders’ criteria, rates, and income models in seconds — giving you a clear, personalised view of what’s possible.
Whether you’re a first-time buyer or moving home, we’ll guide you every step of the way with clear advice, proactive communication, and access to the most competitive 5% deposit mortgages on the market.
Jamie Elvin
Jamie is an expert in all things mortgages, and our most experienced broker. Connect with Jamie and get started to see how Strive Mortgages can help you.
