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New £5K deposit mortgage - could it get you on the property ladder sooner? Lloyds Bank and Halifax have launched a £5,000 deposit mortgage for first-time home buyers, allowing those with modest savings to access home ownership. Aspiring homeowners, particularly those paying rent, who struggle to build larger savings, could benefit from Lloyds' new mortgage offering and get on the property ladder sooner. About the Lloyds £5k deposit mortgage. The £5k deposit mortgage is available to homebuyers where at least one of the mortgage applicants is a first-time homebuyer and can be arranged either directly through Lloyds / Halifax or via a mortgage broker. To secure a £5k deposit mortgage with Lloyds or Halifax, you will need to meet the following criteria: * At least one applicant must be a first-time buyer * Up to 4.5 times income mortgage loans * 5.89% interest rate on a 5-year fixed rate * Mortgage loan amount must be between £97,000 and £295,000 * The maximum property purchase price is £300,000 * Minimum deposit is £5,000 * The deposit must not be raised through family support * The purchase property cannot be a new build, conversion or renovation; a second home or home purchase under any part-share agreement; or a Right to Buy or Buy to Let scheme. * Not available for remortgaging Free mortgage advice Instant free mortgage advice Its partner Habito is a leading online mortgage broker and will recommend the best mortgage for you * Habito checks over 20,000 mortgages from 90 mortgage lenders * 5-star rating on Trustpilot from over 5,000 customer reviews * Can register online How does the Lloyds £5k deposit mortgage compare with alternatives? There are very few mortgage products that can be secured with a deposit as low as £5,000, but there are some, and Moneytothemasses has compared these with Lloyds' offering in the table below. Moneytothemasses has compared a £295,000 mortgage arranged on a capital and interest basis over 40 years using the lender's minimum deposit. It is worth noting that Skipton Building Society and April Mortgages both offer zero-deposit mortgages. Interest rates on mortgages change from time to time, so it is best to use its mortgage rate comparison tool to check the latest deals or speak with a mortgage broker* who can search and secure a deal on your behalf. | Lender | Interest rate | Fixed rate period | Product fee | Minimum deposit | Maximum property price | Total monthly payments over 2 years | | Santander | 5.60% | 5 years | £0 | £10,000 | £510,000 | £36,999 | | Skipton Building Society | 5.69% | 5 years | £0 | £0 | £600,000 | £37,436 | | Lloyds / Halifax | 5.89% | 5 years | £0 | £5,000 | £300,000 | £38,413 | | Yorkshire Building Society | 6.45% | 5 years | £0 | £5,000 | £500,000 | £42,144 | | Accord Mortgages | 6.64% | 5 years | £125 | £5,000 | £500,000 | £42,144 | | April Mortgages | 6.70% | 10years | £1,190 | £0 | £600,000 | £42,463 | The monthly cost for Lloyds' £5k deposit mortgage puts it somewhere in the middle of the pack among alternative low-deposit mortgage deals. However, a £300,000 cap on property prices might mean it doesn't support some first-time buyers in London or the South East, where the average house price is currently above this. Santander and Skipton Building Society not only offer a higher maximum property purchase price but are also priced more cheaply and offer the same 'no lender fee' as Lloyds. Should you low deposit mortgage? You will need to weigh up the benefits of securing a mortgage with a limited deposit against waiting to save more money so you can put a larger deposit towards your home purchase. The obvious advantage of saving more money for a deposit is that you can usually secure a lower interest rate on your mortgage loan when your deposit is at least 5% or more of your property purchase price. That said, there are many circumstances in which homebuyers would prefer to secure a mortgage, albeit with a higher monthly payment, rather than continue paying rent. The benefits will be greater for some than for others, and therefore, it is worthwhile doing some calculations to establish what is right for you. A 10% deposit on a £300,000 house purchase - £30,000, could be secured at an interest rate of 4.82% based on the best current market rates. When compared with Lloyds and Halifax's £5k deposit mortgage interest rate of 5.89% for an equivalent mortgage over 40 years, the alternative would result in a monthly payment that is £195 lower and a saving of almost £12,000 over the 5-year fixed rate period. There is also the risk of negative equity to consider when securing a high loan-to-value mortgage. Buying a house where you own less than 5% of the equity in the house, based on a very low deposit, will leave you vulnerable to negative equity. Negative equity is when the value of the house falls by more than the equity you own. If you find yourself in negative equity, it may be difficult to remortgage when you come to the end of your mortgage fixed rate period. The pros and cons of a low deposit mortgage. * Low upfront savings needed for the deposit * No additional lender fee payable * Available to self-employed and employed applicants * Relatively high interest rate * Risk of negative equity * The maximum property price might be limiting * A maximum of 4.5 times income loan might limit borrowing power * The deposit cannot be supported by family members Is the Lloyds £5k deposit mortgage right for you? A mortgage that gets you into your first home with just £5,000 and no lender fees will be very attractive to many, but there are risks to weigh up, and you may also be limited by the fact that it is only available up to 4.5 times your income. Some of Lloyds' competitors may offer up to 6 times your income to help you secure a larger mortgage loan if needed. On the flip side, Lloyds does allow self-employed applicants, where others do not. And then there's the question as to whether you should carry on saving to build a larger deposit before buying your first home. The best way to determine whether a low deposit mortgage is right for you is to speak with a mortgage professional. Mortgage brokers have a very good understanding of the mortgage market and how lenders differ based on your information, and can therefore quickly match you to your ideal mortgage and support you with your application. If you do not have a mortgage broker, you can search for mortgage brokers in your local area using the online directory for financial professionals, Vouchedfor*. You can also seek online mortgage advice using the services provided by Habito* where mortgage brokers can provide advice, guidance and support over the phone and online to get you the mortgage you need. Mortgage brokers can quickly search thousands of mortgage deals to find the best terms and rates based on your specific needs and are also able to access mortgage deals that lenders make available only through a mortgage intermediary. If a link has an * beside it this means that it is an affiliated link. If you go via the link, Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers - Habito, Vouchedfor Partner Spotlight PensionBee Combine, contribute and withdraw online. Take control of your retirement and join 275,000 customers saving with PensionBee. Provided by its partner Capital at Risk. 1Pension withdrawals are only available to those aged 55 or older, set to increase to 57 years old in 2028

Lloyds Bank launches competitive fixed-rate cash Isas and savings deals. Updated: 07:03 EDT, 19 May 2026 Products featured in this article are independently selected by This is Money's specialist journalists. If you open an account using links which have an asterisk, This is Money will earn an affiliate commission. We do not allow this to affect our editorial independence. Lloyds Bank has boosted its range of fixed savings accounts with its Isas now offering rates as high as 4.65 per cent. The biggest jumps are on shorter fixes. Lloyds' one-year fixed-rate Isa has increased from 4 per cent to 4.55 per cent and its one-year fixed-rate bond has leapt from 3.8 per cent to 4.3 per cent, firing them up the independent This is Money savings tables. The 4.65 per cent rate is available on longer two-year and five-year fixed Isas, although a five-year fix is only offered by Halifax - owned by Lloyds. Lloyds joins a troupe of high-street banks hiking rates on fixed Isas to make them more attractive to savers. In recent weeks we've seen rate increases from the likes of HSBC, Nationwide and Santander. Lloyds' hikes across each of its brands nudge the bank up our best-buy savings tables. It's offering the top one, two and five-year fixed Isas from a high-street bank, although you can achieve better rates with less well-known providers. What are the new rates from Lloyds? Lloyds has hiked rates on both fixed-rate Isas and fixed-rate bonds across its three brands - Bank of Scotland, Halifax and Lloyds. Fixed-rate Isas are tax-free so there's nothing to pay on the interest earned in one. On the other hand, there's tax to pay on interest from a fixed-rate bond if you earn more than your personal savings allowance in the tax year. New fixed rates across Lloyds' three brands | / | Term | Halifax | Lloyds | BOS | Change | | Fixed rate ISAs | 1 Year | 4.55% | 4.55% | 4.55% | +55bps | | / | 2 Year | 4.65% | 4.65% | 4.65% | +15bps | | / | 5 Year | 4.65% | n/a | n/a | +15bps | | Fixed rate bonds | 1 Year | 4.30% | 4.30% | 4.30% | +50bps | | / | 2 Year | 4.40% | 4.40% | 4.40% | +10bps | | / | 5 Year | 4.40% | n/a | n/a | +10bps | How do the rates compare? High-street banks have introduced good rates on fixed Isas over the last few weeks. However they've been lowering them more recently, so those who prefer to save with well-known names will welcome Lloyds' new deals. Nationwide sits a close second behind Lloyds in terms of the best fixed-rate Isas offered by high-street banks. It offers 4.5 per cent on a one-year fixed-rate Isa, 4.55 per cent on a two-year fix and 4.6 per cent on three and five-year fixes. If you're prepared to venture further afield than high-street names, you can currently achieve even stronger fixed rates, with providers hiking them to as high as 4.71 per cent. You might prefer easy-access accounts over fixed ones and rates remain strong here too. Many providers pay 12-month bonus rates that elevate underlying rates, which can sometimes be weak. You should check your rate and potentially transfer out of the account after the year is up. Trading 212* continues to offer a top easy-access Isa at a rate of 4.51 per cent, which includes a fixed 0.91 per cent 12-month boost for new customers on top of the underlying 3.6 per cent variable rate. The Isa is flexible so your allowance won't reduce as long as you replace withdrawals in the same tax year. Trading 212 doesn't penalise you for taking money out and you can open an account with just £1. Plum* is offering a slightly lower rate of 4.5 per cent including a 1.96 per cent 12-month bonus - so the underlying rate is weaker than Trading 212's at 2.54 per cent. This account is also a flexible Isa, doesn't penalise you for making withdrawals, and you can open it with just £1. Easy-access Isas offered by well-known names are notably weaker on rates. Tesco Bank is offering 4.06 per cent, but this includes a huge 3.01 per cent 12-month bonus, so if you don't transfer out you'll be left languishing on a paltry rate.

Former Kidderminster bank up for auction for £160,000. 11 hrs ago The former Lloyds TSB Bank branch in Kidderminster (Image: Bond Wolfe) A former Kidderminster bank is set to go up for auction for £160,000. The former Lloyds TSB Bank, which closed around 20 years ago and located at 15-17 Coventry Street, will have a guide price of £160,000 in the livestreamed auction that will be hosted by Bonde Wolfe on Thursday, May 14. The premises were most recently used as a print shop. The ground floor extends to around 2,129 square feet, with a further 1,513 square feet on the first floor. According to Bond Wolfe, the former bank occupies a 'prominent position' fronting Coventry Street, just off Worcester Cross Ringway in the heart of Kidderminster town centre. Ian Tudor, commercial auction director at Bond Wolfe, said: "These premises would be suitable for a variety of alternative uses, subject to obtaining the appropriate planning permission. "This is a two-storey mid-terrace property with a generous ground-floor open-plan retail area, with an office to the rear. "On the first floor, which can be approached via two stairwells, is a range of offices, a kitchen, stores, a staff area, and male and female WCs. "It could be suited to a range of uses, including retail, offices, a bar or restaurant, or even medical, subject to planning consents." According to Bond Wolfe, offers in excess of the guide price may be considered prior to the auction sale. The former Kidderminster bank will be among 162 lots appearing in Bond Wolfe's next auction, which is due to start at 8.30am on Thursday, May 14. The auction will be livestreamed via Bond Wolfe's website with remote bidding by proxy, telephone or internet. For more details and to register to bid, visit https://www.bondwolfe.com/auctions/properties/, email [email protected] or call 0121 312 1212 or 01902 928 510. More Stories