Do 5% deposit mortgages really exist ?

bnegative

After a little inquiring it appears that lenders expect a family member to deposit 10% into a savings account to be held for a few years when only a 5% deposit is available. 

If i keep searching will i actually find a lender that will be satisfied with just a 5% deposit and not requiring family help? 

MattMattMattUK

bnegative said:

After a little inquiring it appears that lenders expect a family member to deposit 10% into a savings account to be held for a few years when only a 5% deposit is available. 

If i keep searching will i actually find a lender that will be satisfied with just a 5% deposit and not requiring family help? 

They exist as products, they are sold to home buyers, but you also need to meet the affordability criteria, have a very good credit file and be an ideal customer apart from the low deposit. 

Rather than searching yourself, why not speak to a mortgage broker and let them to the work and find the products that are available to you. 

ACG

They definitely exist. 
If your struggling, speak to a broker. 

kingstreet

If searching, use the term "95% mortgage", not 5% deposit mortgage. You might get more hits that way.