Five per cent deposit mortgages make up just 1% of loans

Mortgages with 5% deposits made up just 1% of total lending last month according to online broker Trussle – despite their return being hailed by the Government as the way to "turn generation rent into generation buy". In July, just one in 100 mortgage completions on its books were for buyers with 5% deposits. Trussle said it had had a high level of enquiries about 5% deposit mortgages this year, peaking in March when the Government's Mortgage Guarantee Scheme was announced. This suggests that many first-time buyers are not able to qualify for one based on their finances. 

Daily Mail (30/08/2021)