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New Santander Mortgage: Just 2% Deposit for First-Time Buyers

2/4/2026

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Summary

Story summary

Santander has launched a UK mortgage for first-time buyers that requires a 2% deposit.
The scheme requires a minimum deposit of £10,000.
It offers up to £500,000 with a fixed 5.19% rate for five years.
A recent poll finds 64% of Brits see raising a deposit as the biggest barrier to homeownership, underscoring a shift since the 2008 Financial Crisis.

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Story summary

Santander has launched a UK mortgage for first-time buyers that requires a 2% deposit.
The scheme requires a minimum deposit of £10,000.
It offers up to £500,000 with a fixed 5.19% rate for five years.
A recent poll finds 64% of Brits see raising a deposit as the biggest barrier to homeownership, underscoring a shift since the 2008 Financial Crisis.