Lloyds estimates that around 270,000 first homes valued at £300,000 or below were purchased with a mortgage in 2025.
Regional data from the latest Halifax House Price Index shows that in most areas outside Greater London and the South East, average first-time buyer house prices fall within the scheme’s eligibility threshold.
Regional average FTB house prices and 5% deposit
Region
Ave. FTB House Price
5% Deposit
Reduction vs £5k deposit
East Midlands
£204,687
£10,234
£5,234
Eastern England
£274,631
£13,732
£8,732
Greater London
£464,646
£23,232
N/A
North East
£143,928
£7,196
£2,196
North West
£201,120
£10,056
£5,056
Northern Ireland
£195,981
£9,799
£4,799
Scotland
£168,793
£8,440
£3,440
South East
£302,396
£15,120
N/A
South West
£241,949
£12,097
£7,097
Wales
£198,283
£9,914
£4,914
West Midlands
£219,581
£10,979
£5,979
Scheme Max.
£300,000
£15,000
£10,000
Source: Halifax House Price Index April 2026
Lloyds noted that any property priced between £100,000 and £300,000 would carry a lower deposit requirement under this product than under a standard 95% LTV mortgage.
“With this new offer, brokers have a new option for buyers who have shown their ability to manage their finances, save for a deposit themselves, and who are taking the greater certainty of a longer-term fixed rate,” Bryden said. “A lower deposit can make it easier to save for a deposit for many, or it can help free up cash for other costs, like conveyancing or setting up your new home the way you want it.”
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