What is Halifax £5k Deposit mortgage?
Halifax offers a £5,000-deposit mortgage for first-time buyers, with its own restrictions. It concerns eligible existing homes and your own savings, and is subject to the lender’s assessment.
Checked 28 October 2026. This is a selected product explanation, rather than a whole-market comparison or a recommendation.
Who can apply?
- The published property-value range is £102,000 to £300,000. Applicants must be at least 18.
- The deposit must be your own savings. Gifted deposits are excluded from this particular product.
- New builds, interest-only borrowing and purchases with shared equity, shared ownership or Right to Buy are excluded. Previous mortgage ownership also excludes this product.
What does the deposit mean in pounds?
On a £180,000 eligible home, a £5,000 deposit leaves a £175,000 mortgage, before charges added to the loan. That is about 97.2% of the price, rather than a standard 95% mortgage.
This is deposit arithmetic, rather than an available quote. The lender can offer less or decline an application.
The catches
£5,000 is the deposit, rather than the whole cash requirement. Allow separately for legal work, a survey, moving, tax where due and a reserve.
Borrowing more leaves less protection if prices fall and can increase repayments and total interest. Your home may be repossessed if you do not keep up repayments on your mortgage.
Questions you might be asking
Can a family gift fund the Halifax £5k deposit?
The published rules exclude gifted deposits for this product. Check the current conditions before relying on a gift.
Is this a government scheme?
This is a lender product. The separate Your First Home proposal is government-backed equity borrowing and has different conditions.
Can I use the planner to confirm eligibility?
No. The planner uses general budgeting assumptions and does not apply this lender’s underwriting rules.
What if I have only saved the deposit?
Check buying costs and accessible emergency money separately. A deposit alone does not cover the full cash needed.
Where should I check the latest rules?
Use the linked original lender page. Product availability, evidence requirements and criteria can change.
What is a useful first step?
Build a budget using take-home pay and everyday spending, then discuss the actual property and evidence with a regulated adviser or lender.
Sources
Original information checked 28 October 2026. Lender criteria and government plans can change.
What to do next
Start with what monthly life would cost. Keep the deposit, other buying costs and money held back in separate pots.
Build my starting budget →Download the questions checklist ↓Want help checking the conditions? Talk to Rob at Lynton Mortgages. Your figures are not sent automatically.