Lloyds Bank has become the latest lender to launch a low-deposit mortgage that could help first-time buyers get on the ladder earlier.
The high street bank is offering aspiring homeowners the chance to buy a property with just £5,000.
It will be available on homes up to £300,000 with a minimum deposit required of 1.66 per cent.
It means a first-time buyer can buy a £300,000 property with just £5,000 in savings, albeit they will need to make an allowance for legal fees and surveyor costs.
Eligible buyers will be able to borrow up to 4.5 times their annual salary. This means for the maximum £295,000
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