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Can’t Save a Big Deposit? Now You Don’t Have To!
Let’s be real—buying a home right now feels like trying to win the lottery. You’ve got rent draining your bank account, house prices that make you want to cry, and a mortgage market that seems like it’s built to keep you out.
But what if I told you that you DON’T need a huge deposit to buy a home anymore? Yep, you heard that right.
Accord Mortgages has just dropped a 99% mortgage, meaning you only need a 1% deposit (minimum £5,000) to get on the property ladder. That’s WAY less than the usual 5-10% most lenders ask for.
Let’s break it down, why this is a BIG deal, and why first-time buyers in their 20s and 30s need to pay attention.
What is Accord’s 99% Mortgage?
Accord Mortgages has introduced a 99% loan-to-value (LTV) mortgage, designed specifically for first-time buyers who are struggling to save a deposit.
Key details:
- You only need 1% deposit – but it must be at least £5,000
- Borrow up to 99% of the property’s value
- Available for first-time buyers only
- Applies to houses, not flats
- You need to have a good credit score and be financially stable
Basically, if you’ve been stuck in the renting cycle, thinking you’ll never save enough for a deposit, this could be your way out.
How Much Deposit Do You Actually Need?
To keep things simple, here’s what your minimum deposit would look like at different property prices:
- £200,000 home → £5,000 deposit
- £250,000 home → £5,000 deposit
- £300,000 home → £5,000 deposit
- £350,000 home → £5,000 deposit
- £400,000 home → £5,000 deposit
Since £5,000 is the minimum, even if 1% of your property’s price is less than that, you still need to put in at least £5K.
If you’re buying a home worth over £500,000, you’ll need to put in 1% of the price as a deposit.
Why This is a Game-Changer for First-Time Buyers
You Don’t Need to Save for Years
Saving a 5-10% deposit in today’s economy? Almost impossible. With rent, bills, and avocado toast (hey, we’re not judging), it can take years to save even a small deposit.
With Accord’s 99% mortgage, you could be buying your first home MUCH sooner.
Stop Paying Rent & Own Instead
Why keep paying your landlord’s mortgage when you could be paying your own? A 99% mortgage means that owning is now a real option—not just a dream.
Perfect for Those Stuck in the ‘Renting Trap’
If you’re tired of:
- Rent increasing every year
- Having nothing to show for your hard-earned cash
- Being told you can’t have pets (because your landlord says so)
Then it’s time to get out of renting and into homeownership.
House Prices Are Still Rising
The longer you wait, the more expensive houses get. Getting in now with a 99% mortgage means you start building equity instead of watching house prices go up while you try to save.
What’s the Catch?
Okay, so what’s the downside? There are a few things to consider:
- You Need a Strong Credit History – Since this is a high LTV mortgage, lenders want to know you can handle debt responsibly.
- Interest Rates May Be Higher – Lower deposits = slightly higher interest rates, but it’s still better than paying rent forever.
- Houses Only – If you had your heart set on a city-centre flat, this mortgage won’t cover it.
- You Need a Stable Job & Income – Lenders need to see that you can afford repayments, so being in a secure job helps.
How to Get an Accord 99% Mortgage?
Since Accord only works through mortgage brokers, you can’t get this mortgage directly from them. But don’t worry—we’ve got you covered.
At Verve Financial, we:
- Check if you’re eligible for the 99% mortgage
- Compare the best rates to make sure it’s the right deal for you
- Help with paperwork and get you mortgage-ready
- Charge zero broker fees (yep, you don’t pay us a penny)
Is This the Right Mortgage for You?
If you:
- Have at least £5,000 saved
- Are tired of renting and want to buy your first home
- Have a good credit score & stable income
- Want to get on the property ladder ASAP
Then this mortgage could be perfect for you.
If you’re not sure or want to check your eligibility, chat with us for FREE—we’ll help you figure out the right mortgage options
Final Thoughts – Could You Buy Your First Home SOONER Than You Think?
Let’s be honest: the property market isn’t getting any cheaper. If you’ve been waiting for the perfect time to buy, this 99% mortgage could be your chance.
It’s not for everyone, but if you’ve got a £5,000 deposit, a steady income, and want to ditch renting for good, then this might be the game-changer you’ve been waiting for.
Get in Touch for Fee-Free Mortgage Advice!
