New £5,000 deposit mortgage allows homeowners to borrow up to 99%

A new £5,000 deposit mortgage has been launched by a building society, enabling aspiring homeowners to potentially borrow up to 99% of the property value Yorkshire Building Society said its new fee-free deal will enable first-time buyers across England, Scotland or Wales with a £5,000 deposit to purchase a property valued at up to £500,000 For someone buying a typical first-time buyer property at £200,000, a £5,000 deposit would equate to 2.5% of the purchase price, with the remaining 97.5% being borrowed as a mortgage The new mortgage is available directly to customers and via brokers through Accord Mortgages – the lender’s intermediary-only arm Watch more on Independent TV: Click here to subscribe to The Independent: About The Independent: Making Change Happen. The Independent is the world’s most free-thinking newsbrand, providing global news, commentar